Paypal and Visa Join Blockchain Capital’s Funding Venture to Raise $300 Million

Blockchain Capital, the pioneer of distributed ledger technology, managed to raise $300 million during its fifth fund venture, which ended on 21st June 2021. Blockchain Capital's venture fund includes two major companies- PayPal and Visa, who pose as limited partners looking forward to working with the blockchain entity.  PayPal's General Manager of blockchains and crypto mentions that the company aims at making cryptocurrencies more accessible and secure to its customers. Therefore, onboarding the new fund by Blockchain Capital will allow…

Former Iranian Financial Chief Warns Of The Danger In Bitcoin

Nasser Hakimi, the former deputy governor of the Central Bank of Iran, has warned Iranians about investing in Bitcoin. This comes on the back of the growing popularity of cryptocurrencies in Iran.   A major investment risk  Hakimi revealed his opinion on cryptocurrencies in an interview with local news outlet Tasnim News Agency. According to him, bitcoin is a volatile asset that poses significant financial risks to investors.  He further added that investors should exercise caution in purchasing bitcoin and desist from…

Adoption: Crypto Exchange Crypto.com Hits 10 Million Users Globally

Cryptocurrency exchange Crypto.com has hit a global user base of 10 million, according to a recent report. This is a significant milestone for the exchange that has continued to add more products to its ecosystem.  Symbolic Milestone  Crypto.com revealed this milestone in a recent report detailing the exchange's growth in the past 12 months. According to the report, the exchange reached a global crypto user base of 10.6 million in January 2021.  The report stated that January 2021 resulted in…

Social Media Giant Twitter Could Add Bitcoin To Portfolio Says CFO

Twitter CFO Ned Segal has hinted that the Social Media giant could add bitcoin to its balance sheets. This comes on the back of increasing demand for bitcoins from institutions in recent weeks.  Twitter could join Bitcoin Train Segal revealed this stance in an interview with CNBC on February 10, 2021, when quizzed about cryptocurrencies. The Twitter chief stated that the tech giant might consider bitcoin depending on a few factors.  Segal explained that if Twitter employees and clients request…

Thailand Oldest Bank Launches $50 million Blockchain Fund for Startups

Thailand's oldest bank Siam Commercial Bank (SCB), has launched a $50 million fund for blockchain, DeFi, and Digital Startups. This development is expected to contribute to the growth of startups in Thailand.  $50 Million Digital Fund Siam Commercial Bank revealed today that venture arm SCB 10X would execute the $50 million funds. SCB 10X will select startups in these sectors and participate in seed and incubate projects.  SCB 10X has experience investing in companies within the cryptocurrency niche. The venture-fund…

Visa Set To Launch Crypto API For Banks To Offer Crypto Services

Payment processing giant Visa has announced that it is working on a crypto API program that will enable banks to offer cryptocurrency services. This was revealed in a press release on Wednesday and could herald a new era for the payment company.  Major Step Towards Crypto Integration  Visa has partnered with First Boulevard, a Kansas-based digital bank, to pilot the crypto API program. Bitcoin and crypto custodian Anchorage will hold the bitcoin and cryptocurrencies on behalf of Visa clients. The…

PayPal’s Crypto Initiative Is Converting BTIG Bullish Amid The Pandemic

PayPal Holdings Inc shares were advancing recently after a sell-side analyst took a bullish stance on the payments stock. Mark Palmer, the BTIG analyst, said that the rising shift toward digital payments due to the pandemic has possibly hastened PayPal's long-term growth trajectory. In October, the company announced that its 333 million active users would buy, sell and hold Bitcoin and other cryptos with their digital wallets. Palmer elevated PayPal from Neutral to Buy with a $300 price target calling…

Crypto Is Fundamentally Flawed As A Currency, Says UBS Economist

With investors losing faith in fiat currencies and traditional payment systems, many argue that cryptocurrency, particularly bitcoin, is a viable replacement, and it has changed the concept of money.  Some companies worldwide are already accepting crypto payments. Even PayPal has integrated cryptocurrencies like Bitcoin and Ethereum into its payment network and is set to allow customers to use them for purchases later this year, a move that could foster mass adoption.  Crypto Not A Proper Currency However, Paul Donovan, chief…

Censorship: PayPal Permanently Bans User For Trading Crypto

Not long ago, PayPal entered the cryptocurrency market by integrating bitcoin and other major crypto assets on its payment platform.  The leading payment processor announced last month that it would allow its users to buy and sell cryptocurrencies from their PayPal accounts. The company also plans to allow its users to make payments from their crypto accounts across over  26 million merchants globally.  PayPal's Censorship The crypto industry saw it as a massive development as it promises to expose cryptocurrencies…

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