Blockchain

Blockchain.com Launches Debit Card for U.S. Users

Blockchain.com Launches Debit Card for U.S. Users
By Julie Muhn (@julieschicktanz) Posted on
Categories: Alumni News, Blockchain, Daily news
  • Blockchain.com is launching a Visa debit card in partnership with Marqeta today.
  • The fee-free card enables users to spend their crypto balance or cash within their Blockchain.com wallet.
  • Blockchain.com counts 50,000 sign-ups for the card from users on its waitlist.

Cryptocurrency platform Blockchain.com is making it easier for users to transact using crypto from their Blockchain.com wallet. The company has released the Blockchain.com Visa debit card today, allowing U.S. users to spend their crypto balance or cash within their Blockchain.com wallet to pay for goods and services online or in person.

The new card does not charge fees and pays a reward of 1% back in crypto for all card purchases. Facilitating the launch are Visa, which provides the payment network, and Marqeta, which powers the card issuing process. Marqeta’s Just-in-Time Funding feature is key to Blockchain.com’s card launch. It enables users to spend from their available crypto balance while settling the transaction in fiat currency in the back end.

“As one of the crypto industry’s oldest and most trusted platforms, we’re excited to roll out the natural next step to make crypto easy to use in the real world and accessible to as many people as possible,” said Blockchain.com CEO and Co-Founder Peter Smith. “This is a prime example of digital assets making their mark on the existing financial services industry, as we shape the future of (mainstream) finance.”

At launch, Blockchain.com already has 50,000 sign-ups for the card from users on its waitlist. Once the rollout of the card in the U.S. is complete, Blockchain.com will make the card available to customers in more countries starting next year.

In launching a payment card tied to its crypto wallet, Blockchain.com joins its competitor Coinbase in this effort. The company initially launched a payment card in partnership with The Shift Card in 2015. However, after the debit card company closed up shop in 2019, Coinbase unveiled its own white-labeled Visa debit card issued by Pathward in 2020.

Blockchain.com was founded in 2011 and serves as a platform for users to buy, sell, hold, and trade cryptocurrencies. With 82 million crypto wallets, the company’s 37 million users have made transactions worth over $1 trillion to-date.

Blockchain.com has raised a total of $490 million in funding, including its most recent Series D round earlier this year that valued the company at $14 billion at the time.

Photo by Shubham Dhage on Unsplash

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Blockchain.com Raises Series D Funding at $14 Billion Valuation

Blockchain.com Raises Series D Funding at $14 Billion Valuation
By Julie Muhn (@julieschicktanz) Posted on
Categories: Alumni News, Blockchain, Daily news, Funding
  • Cryptocurrency platform Blockchain.com is now valued at $14 billion.
  • The updated valuation, which is almost 3x higher than its valuation a year ago, comes after Blockchain.com closed a Series D funding round.
  • Blockchain.com’s 37 million users have opened 82 million crypto wallets and have made transactions worth over $1 trillion to-date.

According to its most recent valuation, cryptocurrency platform Blockchain.com is now worth $14 billion. This updated value comes after the U.K.-based company closed a Series D funding round this week. The amount of the new round, which was led by Lightspeed Venture Partners, was undisclosed. Blockchain.com’s funding now totals $490 million.

The new $14 billion valuation is up almost 3x from $5.2 billion, the valuation Blockchain received at its Series C financing round of $300 million in March of last year. As far as valuations in the crypto space, $14 billion is a lot, but it doesn’t place Blockchain.com at the top. Competitors Coinbase and Revolut are valued at $56 billion and $33 billion, respectively.

Blockchain.com was founded in 2011 and serves as a platform for users to buy, sell, hold, and trade cryptocurrencies. With 82 million crypto wallets, the company’s 37 million users have made transactions worth over $1 trillion to-date.

Blockchain.com has five acquisitions under its belt, including ZeroBlock, RTBTC.com, AiX, SeSocio.com, and Altonomy. The most recent buy was the OTC trading and executions business of Singapore-based Altonomy. Blockchain.com anticipates the purchase will spur the growth of its institutional business.

As for what’s next for Blockchain.com, the company is currently exploring the launch of its own NFT marketplace. The new platform, which is currently in beta, will enable users to browse, buy, sell, and store NFTs without leaving their Blockchain.com wallet.

Photo by Arthur Mazi on Unsplash

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Blockchain.com Secures $120 Million in Funding

Blockchain.com Secures $120 Million in Funding
By David Penn Posted on
Categories: Alumni News, Blockchain, Funding

Cryptocurrency wallet provider Blockchain.com has picked up $120 million in funding. The Series A round featured participation from a sizable number of investors, including Access Industries, Lightspeed Venture Partners, and GV (Google Ventures) – among others. Blockchain.com’s total capital now stands at $190 million, and gives the London, U.K.-based firm a valuation of $3 billion.

In a blog post discussing the strategic financing, Blockchain.com CEO and co-founder Peter Smith highlighted the “immense optimism” toward cryptocurrencies displayed by a growing number of “serious, institutional investors.” He noted that the presence of major macro investors such as Louis Bacon’s Moore Strategic Ventures and Kyle Bass in Blockchain.com’s recent funding, and said it was “further proof that institutions are taking a serious look at their crypto strategy.”

And at Blockchain.com’s crypto strategy, as well. Smith noted that when the company began its Series A in 2014 – the same year it debuted at our developers conference, FinDEVr Silicon Valley – the company was powering “just over” two million bitcoin wallets. Today Blockchain.com powers more than 67 million wallets, representing more than $620 billion in transactions. Since 2012, Smith wrote “28% of all Bitcoin transactions … have occurred via Blockchain.com.”

Founded in 2011, Blockchain.com began by offering a blockchain information service, Explorer, and soon after introduced an open source bitcoin wallet to make it easier for investors to buy and sell cryptocurrencies. The company also unveiled Blockchain APIs that helped give a generation of bitcoin businesses the ability to provide services ranging from bitcoin wallet building to transaction verification.

Blockchain currently supports a cryptocurrency exchange, as well as an “exponentially growing” institutional business of digital asset trading, lending, and custody. Smith added that while the wallet remains “at the core” of Blockchain.com’s business, “our Institutional business is now significant enough to cover the entire operating cost of the business globally” in addition to providing further operating profits.

Photo by Joey Kyber from Pexels

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Finovate Alumni News

By Julie Muhn (@julieschicktanz) Posted on
Categories: Bambu, Blockchain, Featurespace, FIS, IDology, Lendio, Onfido, Revolut, Token, WorldPay

On Finovate.com

  • Onfido Unveils International Partner Program.
  • Pepper Power: HSBC Brings Robot Retail Banking to FinovateFall.

Around the web

  • Blockchain launches The PIT, an institutional-grade crypto trading platform.
  • IDology appoints Christina Luttrell as COO.
  • Featurespace delivers ARIC Fraud Hub with banking, payments, and processing solution provider Contis.
  • FIS closes acquisition of Worldpay.
  • TurkishBank teams up with Token to ensure PSD2 compliance.
  • Revolut hires former Metro Bank finance director David Maclean as its new Chief Financial Officer.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

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Finovate Alumni News

By Julie Muhn (@julieschicktanz) Posted on
Categories: Bazaarvoice, Bento for Business, Blockchain, Expensify, Ledger, PayActiv, Swych

On Finovate.com

  • Swych Powers WeChat’s Travelex Pay Service.

Around the web

  • Bento for Business partners with payroll and HR company Cast & Crew
  • PayActiv announces Walmart as Destination to Pick Up Cash-Based Earned Wages.
  • TechCrunch: Blockchain startup Blockchain to launch hardware wallet in partnership with Ledger.
  • Monetate and Bazaarvoice partner on product recommendation strategies.
  • CLA selects Expensify for its clients’ receipt tracking and expense reporting app.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

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Forbes Names 17 Finovate Alums on the Forbes Fintech 50

Forbes Names 17 Finovate Alums on the Forbes Fintech 50
By Julie Muhn (@julieschicktanz) Posted on
Categories: Ayasdi, Betterment, Blend, Blockchain, Chain.com, Coinbase, Credit Karma, Feedzai, Gusto, Kabbage, Kensho, Plaid, Qapital, Ripple, Symbiont, Symphony Software Foundation, TransferWise

Forbes has released the third* Fintech 50 list, which this year features 17 Finovate alums, many of which have made the list for the third time. The Fintech 50 list highlights the top private fintechs that have operations, customers or impact in the U.S. The list excludes public companies and divisions of public companies.

Here are the alums honored in this year’s compilation:

Ayasdi

Among 22 newcomers to this year’s list.

Betterment

The company’s third time making the list.

Blend

Among 22 newcomers to this year’s list.

Blockchain

Among 22 newcomers to this year’s list.

Chain

The company’s third time making the list.

Coinbase

The company’s second time making the list.

Credit Karma

The company’s third time making the list.

Feedzai

Among 22 newcomers to this year’s list.

Gusto (formerly ZenPayroll)

The company’s second time making the list.

Kabbage

The company’s second time making the list.

Kensho

The company’s third time making the list.

Plaid

The company’s third time making the list.

Qapital

The company’s second time making the list.

Ripple

The company’s third time making the list.

Symbiont

Among 22 newcomers to this year’s list.

Symphony

The company’s second time making the list.

TransferWise

The company’s third time making the list.

In 2016, the list contained 20 Finovate alums, including Betterment, Chain, Coinbase, Credit Karma, Gusto, Kabbage, Kensho, Klarna, Motif, Personal Capital, Plaid, Qapital, Quantopian, Ripple, Signifyd, SoFi, Symphony, TransferWise, TrueAccord, and Xignite.

The list from three years back also contained 20 Finovate alums. Algomi, Betterment, Braintree, Chain, Credit Karma, HelloWallet, Kensho, LearnVest, Motif, Personal Capital, Plaid, Prosper, Quantopian, Ripple, Simple, TransferWise, TrueAccord, Vouch, Wealthfront, and Xignite made the list.

*Forbes skipped this compilation for 2017.

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Blockchain Appoints New President and Chief Legal Officer

Blockchain Appoints New President and Chief Legal Officer
By Julie Muhn (@julieschicktanz) Posted on
Categories: Blockchain

Digital currency wallet Blockchain has appointed Marco Santori as its new president and chief legal officer. The role of President was formerly held by Blockchain co-founder Nicolas Cary, who has assumed the role of vice chairman.

Santori comes to the U.K.-based company from Cooley LLP, where he worked as a partner, leading the law firm’s global financial technology practice. During his tenure at Cooley, Santori built a digital assets-focused legal practice.

In his new role, Santori will build Blockchain’s compliance, legal, and corporate development teams and is charged with leading the team in bringing new products to market. “I’m honored and thrilled to join Blockchain, the leading provider for digital asset software,” said Santori. “It’s a compelling opportunity to contribute to a company that is not only achieving unparalleled business success, but also delivering on a powerful mission to create an inclusive financial system from which everyone can benefit.”

Santori’s new position at Blockchain seems to be a good fit for him– he currently serves as an advisor to the International Monetary Fund and is the Blockchain Ambassador for the State of Delaware. Additionally, he penned the “Simple Agreement for Future Tokens” (SAFT) Project Whitepaper, which set the standard for mitigating risks associated with Initial Coin Offerings (ICOs).

Blockchain CEO and co-founder Peter Smith said, “Marco has a breadth and depth of knowledge that is unmatched and I couldn’t think of a better person to focus entirely on our expansion efforts and strategy as we continue to serve our millions of users globally.”

Founded in 2011, Blockchain has more than 22 million wallets and has worked with its exchange partners to process 100+ million transactions in more than 140 countries in 20+ currencies. The company considers its wallet more secure than competitors Coinbase and Kraken because it does not offer an exchange. Instead, Blockchain’s wallet simply stores funds and has no visibility into users’ wallets.

Blockchain presented at FinDEVr San Francisco 2014. The company has offices in London, New York, and Brazil and has raised a total of $70 million, thanks in part to a $40 million Series B round raised last June. In August of last year, the company added ether to the list of currencies it supports.

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Finovate Alumni News

By David Penn Posted on
Categories: Behalf, Blockchain, CapitaWorld ME, Dorsum, Equifax, Personetics, TransferWise, Wealth Migrate

On Finovate.com

  • TransferWise to Power Payroll for Crowdfunding Platform Seedrs.
  • Behalf Lands Equity Funding and Secures $150 Million in Debt Financing.
  • Blockchain Appoints New President and Chief Legal Officer.

Around the web

  • Challenger bank Tandem to leverage Personetics Cognitive Banking Brain to provide personalized financial guidance for customers.
  • Equifax introduces commercial credit data sharing solution for SME lenders.
  • Bluefin Payment Systems partners with EDC Corporation to improve security for credit card transactions.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

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Finovate Alums Earn Spots in European Fintech 100

Finovate Alums Earn Spots in European Fintech 100
By David Penn Posted on
Categories: Backbase, BehavioSec, Blockchain, Braintree, Dorsum, eToro, Fidor Bank, Fintonic, Jumio, Meniga, NetGuardians, Revolut, Scalable Capital, Signicat, Strands, TransferWise, TWINO, Xpenditure, Zopa

Powered by collaborative Belgian innovation platform, B-Hive, and Dutch financial consulting firm, Alex van Groningen BV, the European Fintech Awards & Conference recognize fintech innovators working in a variety of areas ranging from the Blockchain/Bitcoin and Financial Inclusion to InsurTech and Payments.

The awards consist of a European Fintech 100 and a Top Three which will be selected from among the top three startups in each of the conference’s nine categories during a pitch contest at the end of September. Here are the Finovate alum finalists who will compete for top honors in their respective categories this fall.

Dorsum (FinovateEurope 2017)

  • Category: Innovative Banking Software
  • Founded in 1996
  • Headquartered in Budapest, Hungary
  • Róbert Kő is CEO and Founder

Meniga (FinovateEurope 2017)

  • Category: PFM / Robo Advisory
  • Founded in 2009
  • Headquartered in London, U.K.
  • Won Finovate Best of Show three times
  • Georg Ludviksson is CEO

Revolut (FinovateEurope 2015)

  • Category: Challenger Banks
  • Founded in 2013
  • Headquartered in London, U.K.
  • Nikolay Storonsky is CEO and founder

TWINO (FinovateEurope 2016)

  • Category: Alternative Finance
  • Founded in 2015
  • Headquartered in Riga, Latvia
  • Jevgenijs Kazanins is CEO

Below are the Finovate alums that have been named to the European Fintech 100.

 

 

 

 

See the full European Fintech 100 list.

Interested in fintech in Europe and the U.K.? Finovate brings its new, expanded format to London in February. With live demos on Days One and Two, and a diverse range of keynotes, panel discussions, and round tables with fintech professionals on Days Three and Four, FinovateEurope 2017 is an event you won’t want to miss. Visit our FinovateEurope page today to learn more and to take advantage of huge early-registration savings.

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Blockchain Launches Ethereum Wallet

Blockchain Launches Ethereum Wallet
By Julie Muhn (@julieschicktanz) Posted on
Categories: Blockchain

Digital currency wallet Blockchain has added ether to the list of currencies it supports. The London-based company, whose motto is Be Your Own Bank, announced this week that users will be able to create Ethereum wallets– meaning they can store, send, and receive ether.

The user interface of the wallet will remain the same, and the ether wallet mirrors the bitcoin interface. As a part of the new launch, Blockchain has partnered with ShapeShift to power a bitcoin-to-ethereum and ethereum-to-bitcoin exchange to help users diversify their digital currency holdings.

Founded in 2011, Blockchain has 15+ million wallets and has worked with its exchange partners to process 100+ million transactions in 140+ countries in 20+ currencies. The company considers its wallet more secure than competitors Coinbase and Kraken. That’s because, unlike the latter platforms which act as digital currency exchanges, Blockchain offers a wallet to simply store the funds and has no visibility into users’ wallets.

Blockchain presented at FinDEVr San Francisco 2014. The company has offices in London, New York, and Brazil and has $70 million, thanks in part to a $40 million Series B round raised in June. Peter Smith is CEO and co-founder.

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Finovate Alumni News

By Julie Muhn (@julieschicktanz) Posted on
Categories: Akamai, Blockchain, Cloud Lending Solutions, HotDocs, iSignthis, Quid, TransferWise

On Finovate.com

  • HotDocs Integrates with Data Management Solutions Provider, Advologix.

Around the web

  • iSignthis to gain from proposed bill to strengthen Australia’s AML laws.
  • Alkami Adds Adrianne Court as New Chief Human Resources Officer.
  • TransferWise brings its Borderless Accounts to Canada.
  • Quid unveils new platform redesign.
  • Cloud Lending Solutions launches upgrades to existing lending solutions; launches CL Portal.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

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Blockchain Lands $40 Million Series B

Blockchain Lands $40 Million Series B
By Julie Muhn (@julieschicktanz) Posted on
Categories: Blockchain, Funding

Web-based bitcoin wallet Blockchain seems to have benefitted from all of the bitcoin buzz in the past month. The Luxembourg-based company pulled in a Series B round of $40 million today, bringing its total raised to $70 million.

The funding, which the company describes as “rocket fuel” in its blog, comes from new investors Lakestar, GV (formerly Google Ventures), Nokota Management, and Digital Currency Group. Existing investors Lightspeed Venture Partners, Mosaic Ventures, Prudence Holdings, Virgin, and Sir Richard Branson (Virgin Group) also participated.

Since it was founded in 2011, Blockchain has amassed millions of active users from across the globe, formed partnerships in 34 countries, and has built an API platform used by large fintech companies. The company anticipates the new funds will help it deliver its mission to “create an open, accessible, and fair financial future for billions across the globe, one piece of software at a time”

Blockchain presented at FinDEVr 2014, when the company was hosting 2 million wallets on its platform. Today, the company boasts 14 million wallets. Blockchain differentiates itself from competitor wallet Coinbase because, unlike Coinbase, it does not host cryptocurrency exchanges on its site. Instead, Blockchain has set up partnerships with exchanges so that it cannot see users’ transactions or balance amount.

Earlier this year, Blockchain partnered with Imperial College London to launch the Digital Asset Research Lab, an environment that supports research and activities related to cryptocurrencies and blockchain technologies. Late last year, the company announced plans to add a buying option to its wallet.

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