Kategorie: Crypto Business

Daily headlines and news about crypto business.

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Superstate secures $14M Series A round co-led by CoinFund

  • Superstate announced it raised $14 million in its Series A funding round.
  • The round was co-led by CoinFund and Distributed Global, and attracted participation from several venture capital firms.
  • Superstate will use the money to expand the team, finance private funds.

Superstate, an asset management firm looking to modernise infrastructure for investment funds via blockchain technology, has announced it raised $14 million in its Series A funding round.

The funding round was co-led by CoinFund and Distributed Global, with participation from Galaxy Ventures, Arrington Capital, Breyer Capital, Road Capital, CMT Digital, Folius Ventures, Modular Capital, Nascent, Hack VC and Department of XYZ.

The firm plans to utilise the capital injection to hire new talent as they look to expand the team. According to a news release on Wednesday, the financing will also go towards private funds targeted for institutional investors.

A post highlighting the funding round on X noted that resources will also be expended on “a framework for compliant, tokenized, publicly registered investment funds.”

In June this year, Superstate filed for regulatory approval from the US Securities and Exchange Commission (SEC) to create a short-term government bond fund on the Ethereum blockchain. 

Superstate was co-founded by Robert Leshner, the founder of decentralised finance (DeFi) platform Compound.

The post Superstate secures $14M Series A round co-led by CoinFund appeared first on CoinJournal.

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Thailand’s Kasikorn Bank acquires majority stake in Satang crypto exchange

  • Kasikorn Bank has acquired a 97% stake in Thailand-based cryptocurrency exchange Satang.
  • The bank’s deal is reportedly worth 3.705 billion Thai baht ($102.8 million).
  • Satang will rebrand to Orbix.

Kasikorn Bank, Thailand’s second largest bank, has reportedly acquired a 97% stake in Satang crypto exchange. The deal was completed via Kasikorn Bank’s subsidiary Unita Capital and involved 3.705 billion Thai baht ($102.8 million) worth of shares in Satang’s parent company.

Wu Blockchain highlighted the crypto news in a post on X on Monday, citing CoinDesk.

Satang to rebrand to Orbix

The Satang Corporation, founded in 2017 and one of the major digital asset exchanges in Thailand, offers trading for more than 45 cryptocurrencies. Details show that the platform’s customer base is over 1 million.

Per a local media report published early Monday, the deal’s completion will see Satang re-brand to Orbix, with three subsidiaries namely: Orbix Custodian, Orbix and Orbix Technology. 

Kasikorn, also known as K-Bank, recently received a crypto exchange operator license and has launched a $100 million fund for Web3, fintech, and artificial intelligence (AI).

K-Bank’s move sees it join other leading financial giants in Thailand in the push into the crypto ecosystem. These include Siam Commercial Bank (SCB) and Gulf, a local energy behemoth that recently partnered with Binance to expand the global crypto exchange’s services in the country.

The post Thailand’s Kasikorn Bank acquires majority stake in Satang crypto exchange appeared first on CoinJournal.

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Ripple announces new partnership with Uphold

  • Uphold will help Ripple enhance its underlying crypto liquidity infrastructure.
  • Ripple’s cross-border solution has gained huge traction amid use cases such as liquidity management, tokenization and custody solutions.

Ripple has struck a new partnership with crypto exchange and Web3 financial platform Uphold, the companies announced on Tuesday.

As noted in a press release, the collaboration is aimed at enhancing crypto liquidity for Ripple’s cross-border payments infrastructure.

Uphold to enhance Ripple’s infrastructure

Ripple’s solution, which involves the use of XRP to reduce cost and delivery time in cross-border payments, has gained massive traction amid the San Francisco-based company’s global partnerships. 

Uphold, a multi-asset crypto platform with a presence in more than 180 countries and providing access to 200 cryptocurrencies and fiat currencies, could play a key role in advancing Ripple’s global cross-border remittances market.

“Our new partnership with Uphold enables us to enhance our underlying infrastructure and Uphold’s deep liquidity expertise further underpins Ripple’s ability to offer fast and flexible cross-border payments around the world. We see this as the start of our relationship and are excited about what the future holds,” said Pegah Soltani, head of payments product at Ripple.

As its infrastructure grows, with the expansion of its liquidity hub, Ripple has looked to leverage its blockchain infrastructure to allow for real time international transfers. Its product offerings include use cases such as liquidity management, tokenization and custody solutions for businesses.

Commenting on this in light of the new partnership, Uphold CEO Simon McLoughlin said:

“Ripple provides a tremendously valuable service to businesses making cross-border payments and we are thrilled to be an essential part of it. Our partnership illustrates how the unique capabilities of our platform can be used by enterprises to make efficient crypto-to-fiat transfers and bank payouts.”

The post Ripple announces new partnership with Uphold appeared first on CoinJournal.

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Immutable partners with AWS to shape the future of gaming

Key takeaways

  • Immutable has partnered with Amazon Web Service in a bid to push its gaming ecosystem higher.

  • The blockchain firm is set to gain access to a vast pipeline of game studio leads and support,

Immutable partners with AWS

Blockchain firm Immutable announced via X (formerly Twitter) on Wednesday that it is now working with Amazon Web Service. The partnership will see the two entities work together to shape the future of gaming.

According to the Immutable team, they will gain access to a vast pipeline of game studio leads, support for successful deal closures, and up to $100k in AWS cloud credits per Immutable customer.

In addition to this, developers and studios get access to the most complete platform and ecosystem in web3 gaming. 

The team added that they are excited to gain access to expert resources from AWS to help secure prospective customers and ultimately close deals with major game studios from around the world. 

Thanks to this latest cryptocurrency news, AWS Account Managers are financially incentivised to generate leads for Immutable. 

Immutable continues to build its gaming ecosystem

Immutable is focused on becoming one of the leading Web3 gaming platforms. In recent months, it has partnered with several entities to push its gaming activities. 

In March, Immutable partnered with Polygon Labs to develop a zero-knowledge-powered blockchain platform for Web3 gaming. Immutable and Polygon Labs public testing Immutable’s zero-knowledge Ethereum Virtual Machine (zkEVM) in August.

The blockchain firm also partnered with MetaStudio, a renowned Portuguese game studio, to transform the gaming metaverse.

IMX, Immutable’s native coin, has been underperforming despite this latest development. At press time, the price of IMX stands at $0.512, down by more than 3% in the last 24 hours.

The post Immutable partners with AWS to shape the future of gaming appeared first on CoinJournal.

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Bitstamp eyes expansion via partnership with major European banks

  • Bitstamp says three “household name” banks in Europe are looking to offer crypto services.
  • The crypto exchange expects deals as early as first quarter 2024 for services related to its Bitstamp-as-a-Service solution.

Bitstamp is reportedly in talks with several major European banks as it looks to position itself ahead of the rollout of the region’s MiCA rules.

The cryptocurrency exchange is looking to tap into partnerships with the banking institutions to expand its crypto services and products, according to a report published by CoinDesk. It’s news that comes not long after Bitstamp halted Ether (ETH) for US customers amid an unfriendly regulatory environment.

Bringing financial firms to crypto

Per details of the talks, Bitstamp wants to explore the clarity provided via the MiCA laws to bring crypto to more people via three of Europe’s largest banks. The expectation is these firms will begin to offer crypto services to customers in the first quarter of 2024.

According to a senior executive at Bitstamp, the EU’s comprehensive crypto regulatory framework has market players confident. Meanwhile, traditional financial companies are increasingly warming up to digital assets.

Robert Zagotta, global chief commercial officer and CEO of Bitstamp US, says there’s been increased inquiries about the exchange’s Bitstamp-as-a-service solution. The on-demand crypto solution provides for a simple way for banks, fintechs, and payment platforms among other traditional firms to enter the burgeoning crypto space, thereby extending exposure to the new asset class to their clients.

Zagotta said Bitstamp is currently engaging three “household name banks” across Europe. While he did not disclose further details about the firms, he noted that the exchange will make official announcements early next year.

Bitstamp’s big move comes as banking giants like Deutsche Bank and HSBC have in recent months alluded to greater demand from customers for exposure to Bitcoin and other cryptocurrencies. In September, Deutsche Bank partnered with Swiss crypto firm Taurus in a deal that is targeted at providing custody services for digital assets and tokenized financial instruments to institutional clients.

The post Bitstamp eyes expansion via partnership with major European banks appeared first on CoinJournal.