Polychain Capital to Invest $4M in MyCrypto ETH Wallet

MyCrypto plans to hire a team of developers and designers using the attracted funds to help simplify cryptocurrency operations for beginners
30 August 2018   464

Ethereum wallet MyCrypto closed the round of financing series A, within the framework of which it attracted $ 4 million from Polychain Capital, CoinDesk reports.

Investors also included Boost VC, ShapeShift, Ausum Blockchain Fund LP, CEO of Mainframe Mick Hagen, and co-founder of the Earn Lili Lou.

According to Taylor Monahan, CEO of MyCrypto, one of the main problems in the industry is the difficulty in buying or completing transactions with cryptocurrencies.

To solve this problem MyCrypto plans to hire a team of developers and designers using the attracted funds. They will help simplify cryptocurrency operations for beginners with the help of an improved user interface.

Right now our team is really all engineers and customer support people and I think we need to build out a team that just advocates for the user more and has a ton of experience in user interface and design. Specifically, I'm looking for experts that don't have a cryptocurrency background to join the team because their strength is outside the space.

Taylor Monahan

CEO, MyCrypto

Earlier, Polychain Capital invested in the Tezos. 

Fidelity Investments to Launch BTC & ETH Platform

New platform is designed for institutional investors
16 October 2018   212

One of the world's largest asset managers, Fidelity Investments, announced the launch of a unit focused on providing institutional investors with Bitcoin and Ethereum services. The Forbes reports.

The new division received the name Fidelity Digital Assets and, possessing a staff of 100 employees, will provide a platform for trading cryptocurrencies and consulting services 24/7.

The platform already has first customers, but its launch for a wider range of investors is scheduled for the beginning of 2019.

This is a recognition that there is institutional demand for these assets as a class. Family offices, hedge funds, other sophisticated investors are starting to think seriously about this space.

Tom Jessop

Founding head, Fidelity Digital Assets

In particular, Fidelity Digital Assets will offer a transaction service that, using internal cross-connect and order routers, will trade through third-party liquidity providers.

One of the most popular offers by the company can also be a service for storing Bitcoin and other cryptocurrencies. It is physical storage, distributed in different geographical locations and offering the so-called "cold" storage of digital assets. This way of storing cryptocurrencies without access to the Internet and with a multi-level control system is considered to be one of the safest and most resistant to hacking today.

As the CEO of Fidelity Investments, Abigail Johnson, said, the goal of the new platform is to make digital assets like Bitcoin more accessible to investors.

Fidelity Investments is considered the fifth largest asset manager in the world, offering investment and custody services to 13,000 consulting firms and brokers. In total, the company manages assets worth $ 7.2 trillion.