Visa and PayPal begin funding $ 300 million in blockchain capital after entering into a new strategic partnership, as we read more today in our latest crypto news.
Visa and PayPal will participate in Blockchain fundraising, and Blockchain Capital has completed funding of its Fund V LP, according to a press release. Prominent financiers such as these global payment giants took part in the capital increase. Blockchain Capital’s $ 300 million fund cap has been oversubscribed and shows a persistent appetite for DLT-related grants despite the market downturn. In addition to Visa and PayPal, university foundations, family members and hedge funds also participated in the fundraising. Commenting on the closure of the fund, Bart Stephes, co-founder and manager of Blockchain Capital:
“We are extremely honored to welcome a group of world-class investors to V Fund who appreciate the value of a company dedicated to a single industry. As founders, we know how difficult it is to build a company, a protocol and really a whole new industry. “
Spokespeople for both companies said their support for Blockchain Capital is part of an effort to drive innovation in the digital finance sector, and according to Jose Fernandez da Ponte, Vice President and CEO General Manager Blockchain and Digital Currency at PayPal:
“Investing in Blockchain Capital’s new fund enables us to work with entrepreneurs who are driving the future of the decentralized economy and the new wave of financial services.”
Blockchain Capital is a serial investor in the crypto and DLT space as the company’s project portfolio encompasses various aspects of the emerging industry such as US stock exchange giants, states like Kraken and Coinbase. Blockchain Capital’s portfolio is expanding into the decentralized financial market sector and supporting projects such as UMA, Nexus Mutual and Aave. Since it managed to secure $ 2 million in funding from Blockchain Capital and other investors in May 2018, while OpenSea has attracted additional investments, such as about $ 23 million in the report.
As recently reported, Coinbase and PayPal are working together to make buying crypto easier, which means that all users of the exchange can buy crypto using their PayPal account. This move was recently announced and is an important signal of bullish momentum and mainstream acceptance in the market.
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