Align Commerce Debuts Payment Rail To China Using The Blockchain
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....
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Align Commerce recently made headlines at Money 2020 in Las Vegas when their CEO, Marwan Forzley, spoke at one of their panel discussions about cross-border invoicing using the blockchain technology as a transport rail. CoinTelegraph sat down with him afterwards to talk more about this new settlement rail and his thoughts on its future in the financial services market. CoinTelegraph: First, for those who don’t know, what is a payment rail? Marwan Forzley: A payment rail is a payment platform or a payment network that moves money from one entity (a payer) to another (a payee). The payer or....
The company formally known as Align Commerce has raised $24m as part of its plan to simplify global fiat currency payments using the bitcoin blockchain. Now rebranded as Veem, the company that aims to make bank wire transfers extinct, will first use the new funds to usher in two-way transactions in all of the countries it already does business with. Then, later this year, the company plans to spend additional resources leveraging an upcoming hiring spree to accelerate the rate it expands into additional markets. But perhaps the most dramatic change going forward could be the addition of a....
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 the transfer through the blockchain instead of using several intermediate banking relays, halving both time and cost of traditional international wire transfers. Now Align Commerce announced that it has raised a $12.5 million Series A....
Blockchain payments startup Align Commerce has raised $12.5m in Series A funding led by storied Silicon Valley investment firm Kleiner Perkins Caufield & Byers (KPCB). Rounding out the all-star cast of investors were first-time and repeat firms including Digital Currency Group, FS Venture Capital, Pantera Capital, Recruit Ventures Partners and SVB Ventures, the investment arm of Silicon Valley Bank. Founded by Marwan Forzley, a former Western Union general manager, Align Commerce is seeking to disrupt the small business (SMB) cross-border payments market, one it believes is characterized....
A diverse cast of investors has contributed to the most recent undisclosed seed funding round for blockchain-based, cross-border payments solution provider Align Commerce. Participants included more familiar names such as entrepreneur Barry Silbert's Bitcoin Opportunity Corp, Adam Draper-led Boost VC and hedge fund Pantera Capital. The round also included traditionally payments-focused VC firms such as Bayhill Capital Management, NyCa Investment, Pivot Holding, Fenway Summer, R3 and the Whittemore Collection. Unsurprisingly, not all participants are new to the ecosystem. Fenway Summer, for....