Blockchain 

TZero-Backed Startup Wants to Launch Security Token Market

Boston Security Token Exchange (BSTX), a platform jointly owned by BOX Digital Markets and Overstock’s blockchain arm tZERO, has filed an application with the United States Securities and Exchange Commission (SEC) to approve the launch of a market for publicly traded registered security tokens. In the rule change proposal released by the SEC on Oct. 11, BOX asks the commission to “adopt rules to govern the trading of equity securities on the Exchange” which “would operate a fully automated, price/time priority execution system for the trading of ‘security tokens.’” Establishing…

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Blockchain 

South Korean Blockchain Startup Raises $8M for Identity Authentication

Blockchain company Iconloop has secured 10 billion Korean won (KRW) (over $8 million) from seven investment companies participating in a Series A funding round. Per an Oct. 10 announcement, it was Iconloop’s first venture capital investment since its establishment in 2016, with the participation of companies such as Korea Technology Finance Corporation (KOTEC) and T.S. Investment, among others. Building blockchain-based identity authentication service Iconloop is planning to allocate the raised funds to launching its blockchain-based digital identity authentication service called “my-ID”. According to the company, my-ID can be used for…

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Blockchain 

Decentralized Communication Startup New Vector Raises $8.5M

London-based decentralized communication startup New Vector has raised $8.5 million to drive adoption for Matrix, a major alternative messaging protocol. Slack rival Riot.IM The Matrix protocol, which enables secure communication via end-to-end encrypted messaging applications such as Riot.IM, an alternative to WhatsApp, Telegram or Slack, will continue scaling and growing its network with the newly raised funds, New Vector announced on Oct. 10. Investors of the New Vector’s Series A funding round included London-based European seed fund Firstminute Capital, cloud computing and Software as a service (SaaS)-focused Notion Capital and…

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Bitcoin 

French State-Owned Bank Joins $8M Lightning Network Startup Funding

One of the developers of Bitcoin’s (BTC) Lightning Network has secured $8 million in funding from partners, including a bank partially owned by the French state. State-owned Bpifrance funds Lightning development In a press release published on Oct. 9, Bitcoin technology company ACINQ confirmed the news. This brings its total investment to $10 million. The funding came from the lead contributor Idinvest Partners, which focuses on small and medium-sized European businesses. Also involved was Bpifrance, an investment bank created by two French public entities. As such, the government has come…

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Blockchain 

CBMI Partners With Sequoia-Backed Startup to Develop DeFi Services

China Merchants Bank International (CBMI) is partnering with Nervos Network — a Chinese blockchain startup founded by a former researcher and developer of the Ethereum Foundation. A press release published on Oct. 3 revealed that the new partnership will focus on jointly developing decentralized finance (DeFi) applications and helping Nervos to grow its network in the financial services industry. A shift toward decentralization in finance Nervos Network develops a suite of protocols and public blockchain ecosystem aimed at achieving the security, immutability and permissionless possibilities exemplified by the Bitcoin (BTC)…

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Blockchain 

Pantera Capital Leads $5M Seed Round of Decentralized Derivatives Startup

Pantera Capital has led a $5 million strategic seed round of decentralized derivatives protocol Vega. According to the announcement published on Oct. 3, the round included participants such as Ripple’s investment arm Xpring, Hashed, NGC Ventures, gumi Cryptos Capital, Rockaway Blockchain, KR1, Eden Block, Focus Labs, Greenfield One, Monday Capital, RSK Ecosystem Fund, alongside a group of unnamed private investors. Against “profiteering, monitoring, and control” by privileged actors Per the announcement, Vega is currently focused on designing and implementing its core protocol for secure and non-custodial decentralized margin trading.  The…

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Blockchain 

Coinbase, Pantera Capital Participate in $2.4M Seed Round of DeFi Startup

Decentralized finance (DeFi) startup InstaDApp has secured $2.4 million in a seed round from an array of strategic investors, including Coinbase Ventures and Pantera Capital. New funding Per an Oct. 1 blog post, InstaDApp saw funding from investment firms Coinbase Ventures, Pantera Capital,  Robot Ventures, venture capital company IDEO Colab and a number of other investors. InstaDApp is the developer of a mediator smart wallet layer between the user interface and protocols that purportedly simplifies the cost of conducting financial transactions. The startup claims that its protocol launch saw a…

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Blockchain 

Blockchain Startup Tracks Property Liens in Energy-Efficient Loan Market

Blockchain company Spring Labs will be developing a national property lien registry for four financing providers in the United States. Combat fraud and enhance identity validation In an Oct. 1 press release, Spring Labs announced that it was selected by the Property Assessed Clean Energy (PACE) financing providers to create a property lien registry to track liens in $5.6 billion energy-efficient loan market. The Spring Protocol, which is being developed by Spring Labs, will reportedly make it possible for financial institutions to exchange identity, fraud and risk information amongst themselves, without…

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Bitcoin 

Fintech Startup Rapyd Raises $100M for Cloud-Based Payment Platform

Fintech-as-a-service startup Rapyd has raised $100 million in a funding round led by venture and growth equity investments firm Oak HC/FT. Per an Oct. 1 press release, Rapyd secured $100 million from investors such as Oak HC/FT, investment companies Tiger Global, Coatue, venture capital firms General Catalyst, Target Global, and Entrée Capital, and online payments processor Stripe. Building cloud-based tech payment platform Rapyd plans to allocate the raised money to the development of a unified cloud-based technology platform designed to enable enterprises to integrate fintech and payment capabilities into commerce…

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Blockchain 

Shipping Startup 300cubits Suspends Its Blockchain Operations

Blockchain shipping startup 300cubits suspended the operations of its booking module and the circulation of its TEU token. As industry news outlet The Maritime Executive reported Sept. 30, Hong Kong-based 300cubits is believed to be one of the first firms to apply blockchain technologies in shipping. Low transaction volume Per the report, 300cubits’ system began accepting trial shipments in March 2018 and was launched into live production in July 2018. It is also claimed that its TEU tokens are still one of the more recognized digital assets in maritime space.…

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