Blockchain 

Ripple’s Xpring Invests in New Smart Contract Platform

Xpring, Ripple’s investment arm and tech incubator has completed a strategic investment into smart contract platform Flare Networks. Joining the XRP ecosystem On Nov. 5, Flare Networks reported that it secured a partnership and investment with Xpring that will enable the company to bring a “wealth of resources and partners to enhance and extend the Flare, Xpring and XRP ecosystems.” The Flare Network, which has been over two years in the making, reportedly integrates the Ethereum Virtual Machine to enable public and private networks to leverage smart contracts.  Flare will…

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Cryptocurrency 

Overstock’s Crypto Division Invests $2 Million USD in Evernym

Troubled online retailer Overstock has invested $2 million USD in blockchain-based identity firm Evernym through its crypto division, Medici Ventures. Blockchain-Based Identity Technology Evernym was founded in Salt Lake City in 2013 and has developed a blockchain-based technology that allows organizations and governments to issue, accept, and verify credentials that operate similarly to a digital passport. Its digital credential platform, Verity, allows organizations to interact with customers while giving clients control over their data. The technology utilizes blockchain to develop a decentralized ecosystem of digital credentials that is more trustworthy than physical…

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Blockchain 

Japanese HR and Tech Giant Recruit Holdings Invests in Blockstack

Blockchain startup Blockstack PBC has received strategic investment from Japanese human resources giant Recruit Holdings. U.S. startups look for Japanese partnerships The Block reported the startup’s new funding on Aug. 22. As part of the investment deal, Recruit, which is currently valued at $50 billion USD, is purchasing Blockstack’s STACK tokens.  Blockstack PBC CEO and co-founder Muneeb Ali reportedly remarked that United States-based startups typically partner with businesses in Japan. Ali further discussed the advantages of conducting crypto business in Japan. He said: “Japan is a very interesting market for…

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Blockchain 

New Zealand Bank ASB Invests in Local Blockchain Trade Platform

New Zealand’s Auckland Saving Bank (ASB) has invested in local blockchain startup TradeWindow. The funding, reported Aug. 13, should expedite the launch of the company’s Distributed Ledger Technology (DLT) trade platform. Applying blockchain to the global supply chain TradeWindow CEO, AJ Smith, believes that this link-up represents one of the first times a New Zealand bank has directly invested in a technology company. The company offers a host of solutions aimed at the global trade and supply chain industry. With 12,000 registered exporters in New Zealand alone, Smith says he…

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Bitcoin 

Abu Dhabi Sovereign Wealth Fund Invests in Cryptocurrency Exchange

The world’s thirteenth largest sovereign wealth fund, Abu Dhabi-based Mubadala Investment Capital, has made an investment in cryptocurrency exchange MidChains. As UAE English language newspaper Gulf News reported on Aug. 11, Mubadala Investment Capital has invested in MidChains, a digital currency trading platform set to launch in late 2019 in Abu Dhabi. The exchange will be located in the international financial center and free zone Abu Dhabi Global Market (ADGM). Commenting on the investment, Basil Al Askari, co-founder of MidChains, told the Gulf News: “We’re an exchange. You can think…

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Blockchain 

Novogratz’s Crypto Bank Galaxy Digital Invests in Digital Asset Lender

Digital asset lender DrawBridge Lending (DBL) announced that it received funding from cryptocurrency commercial bank Galaxy Digital. A fiat-crypto lending and investing service DrawBridge announced in a press release published on Aug. 8 that it received funding from Galaxy Digital, further strengthen DBL’s fiat-crypto lending and investing capabilities.  Furthermore, the two firms reportedly plan to jointly develop a co-branded special-purpose loan funding vehicle to provide structured financing against institutionally held crypto assets. Michael Novogratz, CEO and founder of Galaxy Digital, commented on the development: “The institutionalization of digital assets is…

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Blockchain 

Shell Invests in Blockchain-Based Energy Startup

Shell, the world’s fifth largest oil and gas firm, has invested in a blockchain-based energy startup, Forbes reports on July 10. The European oil and gas giant has invested an undisclosed amount in New York-based LO3, whose Exergy platform tracks energy with blockchain technology. The recent investment in LO3 marks Shell’s fourth public investment in blockchain-related firms, Forbes noted, listing platforms such as Vakt, Komgo, and Applied Blockchain as other portfolio blockchain companies. According to the report, Shell has an option to convert its investment in LO3’s native tokens called…

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Blockchain 

South Korea’s Largest Telecom SK Group Invests $10M in ConsenSys

South Korea’s largest telecom and the third top conglomerate SK Group has invested $10 million in major global blockchain firm ConsenSys, according to a report by local news agency Chosun on July 2.  Worth noting is the increased involvement of major South Korean companies into crypto industry, including Samsung, internet giant Kakao, Hyundai, among others. In the report, Chey Tae-won, chairman at SK Corporation and South Korean billionaire entrepreneur, has expressed interest in blockchain and token economy. Speaking at a tech startup event in Seoul, Chey argued that traditional business…

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Bitcoin 

Billionaire Henry Kravis Invests in Former Employee’s Crypto Fund

Billionaire Henry Kravis has started investing in the cryptocurrency space, according to a report by Bloomberg on June 28 Ben Forman, a former employee of Kravi’s KKR & Co, said that Kravis has invested in the flagship fund for his blockchain-focused investment firm ParaFi Capital of San Francisco. Discussing his decision to leave KKR to found ParaFi Capital, Forman said that he intends to pursue cryptocurrency investing at his new firm: “While I toyed with the idea of pursuing blockchain investing within KKR, it was clear to me that the…

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Blockchain 

US National Association of Realtors Invests in Blockchain-Based Real Estate Firm Propy

A major United States trade association, the National Association of Realtors (NAR), has invested in blockchain-based real estate platform Propy, Forbes reports on June 10. The NAR’s strategic investment arm, Second Century Ventures, has invested an undisclosed amount in Ethereum blockchain-based startup Propy as a part of its commercial real estate technology accelerator REach. Launched in February 2019, the REach program is reportedly the first commercial accelerator of its kind, aiming to bring together major technology disruptors in the real estate industry by selecting ten startups to enter each year,…

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