Big Banks Invest $55 Million in Blockchain Startup Ripple's Series B
Distributed ledger settlement startup Ripple has raised $55m in venture capital from a mix of financial industry heavyweights. Participating in Ripple's Series B round are Standard Chartered, Accenture Ventures, SCB Digital Ventures, the venture arm of Siam Commercial Bank and SBI Holdings. Additional investors include Santander InnoVentures, CME Ventures, Seagate Technology and Venture 51. With a growth trajectory that will soon force the settlement startup out of its San Francisco headquarters, much of those funds will be spent on expansion projects including sales and marketing.....
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Thursday, Blockchain company Ripple announced that it had raised $55 mln in funding. Accenture Ventures, SCB Digital Ventures, the venture arm of Siam Commercial Bank and Santander Innoventures are just a few of the investors who participated in the Series B funding. Additionally, Ripple has secured partnerships with major banks, including Standard Chartered, BMO Financial Group, and Shanghai Huarui Bank. In the near future Ripple plans to partner with even more banks, which are planned to use the service it provides to improve cross-border payments. Overall, Ripple has received over $93....
It's no secret that cryptocurrencies have undergone a dramatic rebrand. No longer perceived as a threat to banks and governments, cryptocurrencies are now being hailed as "digital assets". As more and more financial intuitions become comfortable with the blockchain technology on which they are based, they are openly discussing a future when the financial tools are just another part of the industry. Now, a dozen banks have announced the completion of an initiative during which they tested a potential application of a digital asset. Revealed today, 12 member banks of blockchain....
US banking giants Goldman Sachs and JPMorgan Chase are leading a number of other financial institutions to invest in blockchain startup Axoni, a report has revealed. According to Reuters, the banks are looking to invest between $15 to $20 million in the blockchain firm. While details remain scarce, the deal itself is set to be announced sometime this week. New York-based Axoni has provided its blockchain prototype for banks’ testing of the innovation for the financial services industry. At least one known and notable example is a months-long test where banks engaged in a smart contract....
Blockchain startup OXIO raised a $12 million Series A to make “Telecom-as-a-Service” as common as SaaS.
With the launch of the “Global Payments Steering Group”, blockchain startup Ripple has revealed details of a new interbank group that will create the first “rules-based blockchain payments network” for global money transfers. In an announcement today, blockchain and Fintech startup Ripple has revealed that banks are getting closer toward uniform policies and governance for the transfer of money over blockchain. The Global Payments Steering Group (GPSG) sees six founding members and will be the first interbank group for global payments based on blockchain technology. Its founding numbers....