MasterCard, CIBC and New York Life Join DCG Funding Round
Payments giant MasterCard has been named as one of 11 investors in Digital Currency Group's (DCG) new funding round. The undisclosed raise, announced today, attracted support from billion-dollar brands across multiple sectors including Canadian bank CIBC, insurer New York Life and TransAmerica Ventures, the VC fund owned by Aegon and TransAmerica. It marks the first investment in the bitcoin and blockchain sector for all but four of the firms involved. DCG founder and CEO Barry Silbert said in a statement: "It is our mission to accelerate the development of a better financial system, and....
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Barry Silbert, Founder of the recently acquired SecondMarket, announced at Money20/20 that the Digital Currency Group had raised its round of capital. Digital Currency Group, otherwise known as DCG, was formed when Genesis Global Trading-a bitcoin OTC trading firm-and Grayscale Investments-a digital currency asset management firm that manages Bitcoin Investment Trust (GBTC)-were combined into one entity. Along with these two companies, Mr. Silbert also combined his diverse portfolio of seed investment in the bitcoin and blockchain space. Some of his early investments include BitPay,....
Digital Asset Holdings (DAH), the New York firm developing blockchain solutions for the financial services industry has announced two new investors joining its funding round. IBM and Goldman Sachs join 13 other investors with the funding round now scaling beyond $60 million. Digital Asset has announced that Goldman Sachs and IBM are now among the investors in its funding round, with the financing now going beyond $60 million. The newest investors come after in the days following a the announcement recent blockchain trial with its lead investor – JPMogran Chase. Prior to its new investors,....
The chief executive of Canadian Imperial Bank of Commerce (CIBC) recently expressed his opinions on the disruptive payment technologies like Bitcoin. Victor Dodig, who was attending the launch of their new mobile payment application Suretap in Toronto, said during a Q&A round that CIBC does not feel threatened by the challenges Bitcoin and similar peer-to-peer technologies pose to its business; instead, the bank is closely studying them in the interests of its own benefits. Dodig meanwhile rubbished the theories that favors new payment platforms over traditional banking sectors, especially....
Crypto investment provider NYDIG raised an additional $100 million in growth capital earlier this week. The new funding round featured MassMutual, Stone Ridge Holdings, New York Life, and Liberty Mutual Insurance, among others as strategic partners. This follows the investment firm’s $200 million cash injection back in early March. In the previous funding round, Robert Gutmann, CEO of NYDIG, stated that the additional funds would be used to develop “Bitcoin-related strategic initiatives spanning from investment […]
More than 30 R3 member banks are expected to invest in the blockchain consortium startup as part of its ongoing $150m funding round, a source close to the deal told CoinDesk. According to sources with knowledge of the details, the funding round would find R3 Partners (the startup's capital vehicle) retaining 40% of the company, with member banks allotted the remaining 60% of the venture. R3 members reportedly had until last Friday to declare non-binding interest in the funding round. Members who do not participate are reportedly able to join R3 Labs, a separate entity that includes all....