Libra raises $7.8 Million

Blockchain startup Libra has raised $7.8 million in a new series A funding round
27 November 2017   1508

Libra designs cryptocurrency and blockchain-oriented accounting and tax software, and the new funds will be invested in the development of Libra Enterprise Platform, the startup stated.

According to Libra, funds came from such investors as VC firm Liberty City Ventures, cryptocurrency market maker XBTO, Lee Linden, a former employee of Facebook and unnamed family office based in Europe.

In 2014, New York-based, seed-stage investment fund Liberty City Ventures led a seed round where Libra has raised $500,000.

Libra's vision is to be the premier provider of next-generation accounting, audit, and tax software and data services for the blockchain and cryptocurrency industry.

 

Jake Benson

CEO, Libra

Recently, the company has taken an interest in the enterprise-level market, developing tools that are aimed in part at exchanges and other trading-oriented companies.

Binance Singapore Unit to Apply For License

Under the new law, aimed at regulating crypto paymetns and trading, firms must register with the Monetary Authority to receive a license
17 February 2020   314

Binance, a Singapore-based cryptocurrency exchange unit, has applied for a license under the new Payment Services Act, which entered into force on January 28.

We have already applied. We submitted the application pretty fast. Binance’s Singapore entity has been in close touch with the local regulators, and they have always been open-minded.

 

Changpeng Zhao

Founder and CEO, Binance

Under the new law, crypto companies in Singapore must register with the Monetary Authority and receive one of three licenses: an exchange of money, a standard or large payment institution. The measure is aimed at regulating payments and crypto trading using requirements for participants in the traditional finance industry. Zhao did not specify which of the licenses Binance Singapore chose.

Binance has been offering crypto-fiat trading services in Singapore since April 2019 and works with eight coins, including Bitcoin, Ethereum and XRP. The trading platform is supported by Vertex Venture Holdings, a venture division of Singapore's Temasek Holdings.