Amex Ventures backs $55M Abra raise
Venture capital continues to flow into the crypto industry, with high-profile investors such as American Express taking part in the new economy. Cryptocurrency trading platform Abra has raised $55 million in funding to bootstrap the next phase of its growth strategy, bringing several high-profile investors on board from both inside and outside the blockchain industry. Abra will use funds from the Series C investment to grow its product offerings in wealth management, trading and payments, as well as expand its in-house capacity, the company announced Wednesday.Amex Ventures, a venture....
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American Express, through its venture capital arm American Express Ventures, is looking to use its recent investment in bitcoin remittance startup Abra's $12m Series A as a way to more closely observe the digital currency industry and the technology behind it. AmEx Ventures managing partner Harshul Sanghi told CoinDesk in a recent interview that, for the 165-year old company, it's too soon to predict how it might leverage the technology or what use cases might take shape. "It's very, very early days for us, right? And ... we get to explore and see how the space is going to evolve," he....
Bitcoin remittance app Abra recently confirmed raising $12 million in a new venture financing round. The Series A round drew support from noted investors like Arbor Ventures, RRE Ventures and First Round Capital. Other investors that took part in the funding are Blockchain Capital, Digital Currency Group, Liberty City Ventures, etc. The total valuation of Abra, upon receiving the new funds, has now reached $14 million. Announced in March this year, Abra is a brainchild of a seasoned technology entrepreneur Bill Barhydt. The former Netscape director said during the launch that he is looking....
Leading wealth management platform Abra completed a Series C funding with participation from the Stellar Development Foundation. The company raised $55 million in the round led by major players in the industry, such as IGNIA and Blockchain Capital. The Stellar Development Foundation was one of the new investors in the company alongside Kingsway Capital and Tiga Investment. In addition, Abra received investments from Lerer Hippeau Ventures, Amex Ventures, Arbor Ventures, RRE Ventures, CMT Digital Ventures, and Kenetic Advisors. Related Reading | An Introduction To Stellar And XLM:....
Abra announced its international venture and U.S. bank would work with officials to ensure regulatory and legal compliance and planned to launch in 2022 and 2023, respectively. Cryptocurrency trading platform Abra said it was “in the process of” establishing a United States-based state-chartered bank allowing clients to deposit digital assets.In a Monday announcement, Abra said the bank, named Abra Bank, would be regulated to operate within the U.S. and give customers the ability to use digital assets in seemingly the same way as fiat at traditional banks. The company also planned to....
American Express’ Amex Ventures, Visa, Citi Ventures, DRW Venture Capital, Jump Capital, Marshall Wace, Block (formerly Square Inc.), and Paypal Ventures are among investors in the latest funding round of crypto transaction monitoring and forensics platform TRM.
Amex, Visa, Citi, Paypal Invest in TRM Platform
Crypto transaction monitoring and forensics platform TRM announced Tuesday investments from major financial institutions in its Series B funding round.
The company has raised $60 billion from leading financial institutions, including American....