Bitcoin Startup's CEO: Big Banks Are Our New Market
Bitcoin startup Bitpay was founded in 2011 when Bitcoin was heard only within a coterie of technology enthusiasts. Come 2014, the company shattered all records to secure a $30 million investment in a Series A round of financing. In February 2015, the company boasted of 60,000 merchants accepting Bitcoin. But four months since then and the company has shifted its focus from getting more businesses to accept Bitcoin payments to selling the technology developed to big banks. Bitpay's Co-founder and CEO Stephen Pair told Business Insider that, "They (big banks) are very excited. What we're....
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Banks didn’t plan for the blockchain. It just happened in front of them in 2015. But, they have been thinking a lot about its implications. 2015 was the year that banks started to wonder about their blockchain strategy. Banks that didn't have such a strategy were considered laggards. But despite its revolutionary prognosis, the blockchain doesn't signal the end of banking, because the banks aren’t going to use it to disrupt or obsolete themselves. Rather, they will guide it to live within the regulated constraints of their world. The good news is blockchain implementations help banks....
Distributed ledger startup R3CEV announced the addition of three new banking partners to its blockchain project last week, raising the total number of banks involved to 25. The list of partners includes banking giants such as Goldman Sachs and Santander, both of which have already dipped their toe in the world of crypto through investments in Circle Internet Financial and Ripple, respectively. For some of the other banks, this partnership with R3 marks their debut in the increasingly trendy distributed ledger space, which is broadly seeking to apply the underlying technology of bitcoin to....
Arguably, the most talked-about private blockchain consortium around has just had twelve additional banks signing up as members to the R3-led group of global banks looking to tap into and experiment with blockchain technology for securities settlements and payments. New York-based Fintech startup R3 has added 12 more banks as members to its blockchain consortium. The startup also revealed that it is welcoming financial firms that aren't banks such as exchanges, clearing houses, standards bodies and infrastructure companies from Q1 2016. The latest additions to the consortium include: BMO....
Bitcoin companies who are part of this year's Innotribe Startup challenge, a contest run by the international payment network SWIFT, have the opportunity to partner with and be mentored by some of the world's most prestigious financial institutions. "What really sets the Innotribe program apart is the coaching we give the startups in how to engage the more established financial services providers," said Mike Sigal, Innotribe's lead coach. "There's a chasm between how startups and banks practice innovation, and helping our startups understand how to communicate their value propositions to....
Crypto-finance company Epiphyte has won the SWIFT Innotribe Startup Competition at the Sibos 2014 technology and innovation trade show in Boston. The company earned the competition's $50,000 'Top Startup' award with cBridge, its first crypto product targeted at international banking and financial institutions. Epiphyte CEO and founder Edan Yago said it was "very gratifying" to win the prize at the world's largest banking convention. He added that banks, bitcoin and other distributed ledger systems have a lot to learn from each other. Epiphyte specialises in distributed ledger solutions for....