Visa Invest $40 Million in Crypto Startup, is Mainstream Acceptance Here?

Electronic payments giant, Visa, along with VC firm, Blockchain Capital, have raised $40 million for a Series B funding round at digital asset custodians, Anchorage. The little-known startup seeks to advance institutional participation in cryptocurrencies. And this latest round of funding brings a total of $57 million invested since 2017.
While Anchorage is a relative newcomer to the space, both Visa and Anchorage are participating companies in Facebook’s Libra project. And despite the criticisms that beset Libra, that hasn’t stopped them, as well as a host of others, from wanting to get in on the crypto game.

Anchorage Provides Custodial Services With A Difference
The goal of Anchorage is straightforward. They intend to bring institutional investors to the space by providing secure custodial solutions. Co-founders, Diogo Mónica and Nathan McCauley wrote:
“We’ve started with solving the biggest problem facing our industry: making it safe for institutions to hold and use crypto. Since starting down this path in 2017, we’ve built the most secure digital asset custody solution on the market, and on-boarded some of the leading institutional investors in the space as clients, including Blockchain Capital, Polychain, Paradigm, and a16z crypto.”
Custodial services are nothing new. But Anchorage differentiates itself on a number of fronts, including participation features such as offering returns for staking and inflation, as well as support for on-chain governance.
But perhaps the most pertinent difference lies in their next generation cold storage solution. It relies on biometric software, as well as multiple approval systems, including human review, to secure the digital assets of clients. According to Mónica, this is particularly advantageous because:
“…investors gain greater access to and control over their holdings, enabling them to freely and actively participate in cryptocurrency networks.”
In this respect, the co-founders draw parallels with Visa, in that, Visa also provides “financial plumbing.” To which SVP and Head of Fintech at Visa, Terry Angelos, said:
“This investment is consistent with Visa’s global strategy to partner with and invest in emerging fintech companies…We’re pleased to add Anchorage to our growing investment portfolio.”
Visa’s Investment Indicates Growing Mainstream Acceptance
Not so long ago, legacy US financial organizations, including Citibank, JPMorgan, and Bank of America, moved to ban crypto related transactions. This had a trickle-down effect of smearing cryptocurrency in the minds of no-coiners.

Yesterday in Congress Rep. Sherman called for a bill to ban all #cryptocurrencies, due to concerns about illegal activities. This doesn’t surprise us, as his top campaign donations are coming from banks and credit card companies. #crypto
— Weiss Ratings (@WeissRatings) May 10, 2019

And while Visa had concerns over KYC and AML, they remained somewhat openminded when it came to cryptocurrency. Speaking to CNBC in October 2018, Visa CEO, Al Kelly talked about the threat of cryptocurrency to Visa’s business:
“Certainly not in the short to medium term in any way. And I think if we actually think that crypto starts moving from being more of a commodity to actually really being a payment instrument. If it goes in that direction, we will move in that direction. We want to be in the middle, Jim, of every payment flow in the world regardless of how it happens or what the currency is behind it. So if we have to go there, we will go there. But right now, it’s more of a commodity than a payment vehicle.”
Indeed, with Visa’s continual investment in crypto companies, it would seem as though that moment has happened. But more than that, Visa’s interest in cryptocurrency is an indication of growing mainstream acceptance. Which is a term that has often been banded about in the past.
But now, in the present, there is no denying the evidence that exists throughout the space. And while a number of significant hurdles still exist, most notably in a balanced global regulatory framework. It feels as though the worst is behind us.
The post Visa Invest $40 Million in Crypto Startup, is Mainstream Acceptance Here? appeared first on NewsBTC.
Source: New feedNewsBTC.com

Visa, Blockchain Capital, and Others Back $40 Million for Anchorage Crypto Custodian

Coinspeaker
Visa, Blockchain Capital, and Others Back $40 Million for Anchorage Crypto Custodian
Anchorage has announced that they have raised around $40M in a Series B funding round. A few of the large backers include Visa, Blockchain Capital, and Andreessen Horowitz. Anchorage provides crypto custody services for institutional investors.
Visa, Blockchain Capital, and Others Back $40 Million for Anchorage Crypto Custodian

Continue reading at Coinspeaker
Source: CoinSpeaker

Binance Wants to List Libra, Also Be Part of The Libra Association

Coinspeaker
Binance Wants to List Libra, Also Be Part of The Libra Association
Judging by recent news, it appears that Binance is in talks with Facebook about either listing Libra or joining the Libra Association. Binance’s CSO, Gin Chao, confirmed that the exchange has had discussions with Facebook about a listing process.
Binance Wants to List Libra, Also Be Part of The Libra Association

Continue reading at Coinspeaker
Source: CoinSpeaker

Mark Zuckerberg Fights For Libra, Says Facebook Has Only One Vote in It

Coinspeaker
Mark Zuckerberg Fights For Libra, Says Facebook Has Only One Vote in It
Mark Zuckerberg commented on the newly-launched Facebook’s Libra crypto. He says that Libra Association is an independent organization and Facebook only has one vote in it. That way he emphasizes the trustworthiness of Libra.
Mark Zuckerberg Fights For Libra, Says Facebook Has Only One Vote in It

Continue reading at Coinspeaker
Source: CoinSpeaker

Max’s Corner: Slouching Towards Silicon Valley

Coinspeaker
Max’s Corner: Slouching Towards Silicon Valley
This edition of Max’s Corner analyzes the controversy surrounding the changes to Google’s search algorithm, the plight of the Silk Road founder and the latest on Facebook’s crypto project.
Max’s Corner: Slouching Towards Silicon Valley

Continue reading at Coinspeaker
Source: CoinSpeaker

Two Blockchain Startups Join Hands for Amazon Purchases with Ethereum

Coinspeaker
Two Blockchain Startups Join Hands for Amazon Purchases with Ethereum
Two blockchain startups partnered up to enable Amazon consumers use Ethereum for payments. For this to come true, CLIC Technology is collaborating with Opporty for an app-like browser extension.
Two Blockchain Startups Join Hands for Amazon Purchases with Ethereum

Continue reading at Coinspeaker
Source: CoinSpeaker

Facebook Cryptocurrency: Visa, Mastercard, PayPal, Uber Among Top Members of Consortium, Report

Reportedly, Facebook Inc. has signed up more than a dozen companies including Visa Inc., MastercardInc. PayPal Holdings Inc. and Uber Inc. These technology companies form a consortium which will find a similarity to XRP or Stellar Lumens validators through the Stellar Foundation. 
Facebook will reveal the model/whitepaper of its cryptocurrency, Libra on 18th June. The Whitepaper is the basic design of any blockchain based token that outlines the protocol, governance model, total supply, inflation characteristics, and the utility.
The essential criteria of any cryptocurrency warrant decentralized control and borderless transactions. While Facebook cryptocurrency is expected to be banned for the nations that the US has put sanctions on, nevertheless, mainly the cryptocurrency will be made available to about $2.3 billion users worldwide. 
Also Read: Facebook’s ‘Globalcoin’ Will Credentialize Bitcoin as a Store of Value: Mike Novogratz
The cryptocurrency will be a stablecoin backed by a basket of FIAT currencies. Hence, there wouldn’t be much speculation around price. Nevertheless, Facebook’s cryptocurrency will have a significant effect on the existing cryptocurrency markets for the good or the worse.
Firstly, it would clear the securitization doubts around many cryptocurrencies, primarily XRP and EOS. Second, it would directly challenge the existing banking system of the world. The borderless payments scheme with storage of stable value has the potential to make Libra a dominant currency. Furthermore, it would also drastically shift the percentage dominance of the top cryptocurrencies.
Read Everything We Know About Facebook’s Cryptocurrency, Libra/GlobalCoin here. 
Do you think that the MCap of Facebook’s stablecoin will surpass Bitcoin’s $150 Billion at the moment? Please share your views with us. 
The post Facebook Cryptocurrency: Visa, Mastercard, PayPal, Uber Among Top Members of Consortium, Report appeared first on Coingape.
Source: CoinGape

Radix Manages to Replay 10 Years of Bitcoin Transaction History in Less Than 15 Minutes

Coinspeaker
Radix Manages to Replay 10 Years of Bitcoin Transaction History in Less Than 15 Minutes
Radix has managed to achieve a speed of over 1 million transactions per second while replaying Bitcoin transactions history.
Radix Manages to Replay 10 Years of Bitcoin Transaction History in Less Than 15 Minutes

Continue reading at Coinspeaker
Source: CoinSpeaker

Libra Coin: Facebook Plans June Revealing for Its Cryptocurrency

Coinspeaker
Libra Coin: Facebook Plans June Revealing for Its Cryptocurrency
The new Facebook’s cryptocurrency – likely to be dubbed Libra Coin – should be revealed later this month, said one of their managers adding that a white paper for the token would be published on June 18.
Libra Coin: Facebook Plans June Revealing for Its Cryptocurrency

Continue reading at Coinspeaker
Source: CoinSpeaker

Ripple Acquiring MoneyGram Was Fake News But It Gave XRP Price the Boost

Coinspeaker
Ripple Acquiring MoneyGram Was Fake News But It Gave XRP Price the Boost
After a rumor broke out yesterday that a California-based crypto start-up Ripple has acquired the major US-based money transfer company MoneyGram, both companies refused to comment. Still, even the rumor was enough for XRP price 8% boost.
Ripple Acquiring MoneyGram Was Fake News But It Gave XRP Price the Boost

Continue reading at Coinspeaker
Source: CoinSpeaker

Line Pay Corporation Partners with VISA for New Fintech Services

Coinspeaker
Line Pay Corporation Partners with VISA for New Fintech Services
Line Pay has partnered with VISA to bring new blockchain solutions, contactless payments, and a pre-paid digital visa card. Line says that with this new partnership, they will be able to reach 187 million people around the world.
Line Pay Corporation Partners with VISA for New Fintech Services

Continue reading at Coinspeaker
Source: CoinSpeaker

Binance Coin [BNB] can now be bought using Visa and MasterCard as BNB’s price rises

The Changpeng Zhao-led Binance and its affiliates have had a great 2019, with multiple developments and upgrades. The world’s largest cryptocurrency exchange got another boost recently after it announced that Binance’s own Binance Coin [BNB] could now be traded using Visa and MasterCard.
The organization claimed that the addition of BNB in the Visa/MasterCard roster meant that the seventh largest cryptocurrency on the charts joined Bitcoin [BTC], Ethereum [ETH], Litecoin [LTC], XRP and Bitcoin Cash [BCH]. Visa and MasterCard’s partnership with BNB was a landmark achievement because of the integration of a mainstream organization with its cryptocurrency counterparts.
The latest feature led many fans of Binance to speculate that “Coinbase is done!” and that the MasterCard/Visa involvement was an important breakthrough. Bitcoin Birch, a BTC proponent added,
“For the “don’t buy crypto on credit card” people – yes, don’t do that. However, keep in mind that Visa and MasterCard also issue Debit cards.”
Binance followed the footsteps of Coinbase, its biggest rival, after it teamed up with Visa in April to launch the Coinbase Card. Coinbase’s blog had stated,
“This is the first debit card to link directly with a major cryptocurrency exchange in the UK and EU, allowing users to spend their crypto balances direct from their Coinbase account”
Binance was also in the news recently when it launched the Great Britain Pound [GBP]-backed BGBP, on the Binance Chain. According to sources, CZ had already “issued” its stablecoin, which might lead to positive effects on Binance Coin’s price. CryptoBatman, a cryptocurrency proponent, also tweeted about the addition, tweeting,
“BIG NEWS!
It looks like @Binance has issued their Stable Coin $BGBP on Binance Chain!
It’s incredible how fast Binance moves. I can’t say enough how big this is for Binance and Binance Chain.
Expect $BNB to skyrocket from here!”
The latest announcement may also have contributed to BNB’s sudden surge in prices on the cryptocurrency charts.
The post Binance Coin [BNB] can now be bought using Visa and MasterCard as BNB’s price rises appeared first on AMBCrypto.
Source: AMB Crypto

Coinbase Debit Card Will Soon Be Available in the U.S.

Coinspeaker
Coinbase Debit Card Will Soon Be Available in the U.S.
The US customers will soon enjoy the benefits of a Coinbase Debit Card after it launched in the UK successfully letting users pay for their daily bills using crypto.
Coinbase Debit Card Will Soon Be Available in the U.S.

Continue reading at Coinspeaker
Source: CoinSpeaker

Visa Inc. Debutes Visa Next Platform Opening Up New Approach to Consumer Fund Management

Coinspeaker
Visa Inc. Debutes Visa Next Platform Opening Up New Approach to Consumer Fund Management
Visa introduced its Visa Next platform complete with APIs that will enable issuers and issuer processors to create and test new digital products.
Visa Inc. Debutes Visa Next Platform Opening Up New Approach to Consumer Fund Management

Continue reading at Coinspeaker
Source: CoinSpeaker

Lightning Users Can Now Shop with Bitcoin on Amazon

Coinspeaker
Lightning Users Can Now Shop with Bitcoin on Amazon
Due to crypto-payment start-up Moon, application of Bitcoin payment on the Lightning Network has been enabled. Starting from April 24, payments can be made on Amazon using the crypto application.
Lightning Users Can Now Shop with Bitcoin on Amazon

Continue reading at Coinspeaker
Source: CoinSpeaker