Align Commerce Raises $12.5 Million, Launches Blockchain-based Cross-border B2B Payment System
In April, Bitcoin Magazine reported that global payment provider Align Commerce launched a public beta of its payments platform, the first in the industry to use the Bitcoin blockchain transparently to enable faster and cheaper global payments. Transactions appear as traditional payments at both the sending and the receiving end, but Align Commerce pipes....
Related News
Simplifying cross-border payments for businesses can not be achieved through traditional financial infrastructure; that much is clear by now. In countries where there are limited to no financial services available, there is no adequate infrastructure to speak of. Blockchain technology can help resolve that problem, and Align Commerce is banking big on this innovative form of remittance. It was only a matter of time until multiple businesses started to recognize the potential offered by blockchain technology.With the financial sector prone to disruption and innovation in its current state,....
Align Commerce, a San Francisco, Calif. -based cross-border payments service provider that exchanges a payer's fiat currency into bitcoin, then exchanges it into the payee's currency, has raised $12.5 million in Series A funding by Kleiner Perkins Caufield & Byers, according to today's Wall Street Journal. Align Commerce's money transfer model avoids the "cumbersome" bank wire process for payments, according to CEO Marwan Forzley, who started the company after serving as general manager at Western Union. The company can also offer features like tracking fund movement in real time and....
Align Commerce announced yesterday that the public beta of its international payments platform had launched, which could cut the cost and time of transactions in a $24 trillion market. Thirty-four countries are now exposed to this beta. "The $24 trillion cross-border payments market is growing at a breakneck pace, expected to eclipse $54 trillion by 2022, despite a highly inefficient and expensive system in which businesses spend over $50 billion on wire and foreign exchange fees, wait up to seven days for transactions to complete and have no visibility into the process," said Marwan....
Align Commerce, a San Francisco, Calif.-based cross-border payments service provider, has established a “China corridor” to allow businesses to easily send and receive payments to and from Asia’s largest economy. With the value of bilateral trade between the U.S. and China surpassing $555 billion in recent years, businesses in both countries will now reap the benefits of Align Commerce’s multi-rail technology that combines the blockchain with traditional payments, real-time payment tracking and easy invoicing. Align Commerce, in celebration of the Chinese Lunar New Year and to mark the....
Align Commerce, San Francisco-based Blockchain payments processor announced the closure of a Series A funding round on Tuesday, November 17, with $12.5 million led by Kleiner Perkins. This marks the first time Venture Capital firm Kleiner Perkins Caufield & Byers (KPCB) has invested in a Bitcoin startup. Randy Komisar, KPCB general partner and co-founder of Claris Corp., who will also be joining Align’s board said: Align is a cross-border payments startup launched in January 2015 that allows its customers to use both traditional and blockchain financial opportunities for small and....