PayPal to Invest in Blockchain Project

Thus, the total amount attracted by the Cambridge Blockchain venture capital investment is $ 10.5 million
03 April 2019   313

Payment giant PayPal made the first investment in a startup working with blockchain technology, CoinDesk reports.

The American company has joined the extended round of financing of the A Series of the Cambridge Blockchain startup, which helps financial institutions and other organizations manage confidential data through distributed registry technology.

Participants of the deal did not disclose information on the amount of investment. However, according to recently filed documents with the Securities and Exchange Commission, in the past nine months, Cambridge Blockchain has raised $ 3.5 million from various investors, including PayPal and the Omidyar Network.

Prior to this, a startup raised $ 7 million from the venture division of Foxconn Technology Group, Partech Ventures and Digital Currency Group. Thus, the total amount attracted by the Cambridge Blockchain venture capital investment is $ 10.5 million.

We made an investment in Cambridge Blockchain because it is applying blockchain for digital identity in a way that we believe could benefit financial services companies including PayPal. Our investment will allow us to explore potential collaborations to leverage blockchain technology.
 

PayPal Team

The former head of PayPal, Bill Harris, has repeatedly harshly criticized Bitcoin, calling it "a zero-value cult", and arguing that the first cryptocurrency involves inexperienced buyers in the "spiral of greed."

South Koreans to Invest in Crypto Actively

In addition to the investment amounts, the share of those interested in investing in digital assets also increased
22 April 2019   81

The average amount of investments in cryptocurrency from South Korean invesetprs is $ 6,100, which is 64% more than last year, Cointelegraph reports.

According to a survey conducted by the Korean Fund for the Protection of Portfolio Investors, in addition to the investment amounts, the percentage of those interested in investing in digital assets also increased. Thus, 7.4% of the 2500 respondents have already acquired cryptocurrency (last year there were 6.4% of those). It is noteworthy that this figure has increased, despite several major break-ins of the South Korean crypto exchange, as well as tougher regulation of the industry.

Analysts connect the market with a recent bitcoin price jump and hope for a new bull rally.

Recall recently it became known that 94% of trust capital funds invest in cryptocurrency.