Elliptic banks $23M to shrink crypto risk, eyeing growth in Asia

Crypto means risk. To UK company Elliptic it also means business. The startup has just closed a $23M Series B to step up growth for a crypto risk-management play that involves selling tech and services to help others navigate the choppy darks of cryptocurrencies. The round was led by financial services and asset management firm […]

Facebook is working with HackerOne on a bug bounty program for its Libra cryptocurrency

Facebook and its partners are moving ahead with their Libra cryptocurrency project and announced they are working with HackerOne on a bug bounty program for applications built on its blockchain. The move comes even as government regulators have called for the company to suspend the project while they assess its legality and the potential threat […]

VertoFX raises $2M for its African and EM currency trading platform

VertoFX, an Africa and emerging markets-focused currency trading and payment startup, has raised a $2.1 million seed round, led by Accelerated Digital Ventures. The London-based company, with a subsidiary in Lagos, Nigeria, has created a platform that allows businesses and banks to exchange and make payments in exotic foreign currencies that don’t often convert or […]

Congressional testimony reveals some faults in Facebook’s digital currency plans

As Facebook continues to lay the foundation for getting some of the world’s largest payment processing and technology companies a seat at the global monetary policy table, the company faces significant obstacles to enacting its plans from both sides of the Congressional aisle. In the second of what’s sure to be many (many many many) […]

Facebook reportedly hasn’t contacted the regulator it says will oversee Libra’s privacy and data security

A Swiss regulatory agency that Facebook executive David Marcus said in congressional testimony would be responsible for overseeing data and privacy protections for the company’s newly launched cryptocurrency, Libra, has not been contacted by Facebook, according to a report. CNBC is reporting that the Swiss Federal Data Protection and Information Commissioner, who Marcus said would […]

How Facebook’s Libra is similar in concept and motivation to Kik’s Kin cryptocurrency

Facebook unveiled its Libra cryptocurrency initiative today, which is part of an alternative financial system (including new subsidiary and wallet Calibra) it aims to build alongside industry and academic partners including Mastercard, PayPal, Visa, Uber, Andreessen Horowitz and Creative Destruction Lab. Facebook’s plans for Libra sound ambitious, risky and novel — but a predecessor exists […]

CoinBits launches as a passive investment app for bitcoin

Erik Finman is a twenty-something bitcoin maximalist as famous for his precocity as he is for his $12 bet on the currency a few years ago. Now, Finman, who built his first company while still in high school, is launching a new startup called CoinBits, which allows users to passively invest in bitcoin. The idea, […]

These startups are locating in SF and Africa to win in global fintech

To become a global fintech player, locate your company in San Francisco and Africa. That’s the approach of payments company Flutterwave, digital lending startup Mines, and mobile-money venture Chipper Cash—Africa-founded ventures that maintain headquarters in San Francisco and operations in Africa to tap the best of both worlds in VC, developers, clients, and the frontier […]

Bitcoin has surged above $8,000 and theories around why abound

Bitcoin is now trading at around $8,130, up a whopping 60.84% over the past month, with the price surging $3,086.14 over the period. The cryptocurrency’s meteoric rise is reminiscent of its rocketing growth in the latter half of 2017, when prices reached more than $18,400 on the back of buoyant capital markets, rampant speculation and […]

Grainchain, a blockchain-based platform for commodity sales, launches in Mexico

In the two years since GrainChain launched its distributed ledger-based transaction platform for bulk dry goods, the company has brokered thousands of contracts on everything from corn, sorghum, wheat and soybeans to even sand from its headquarters in McAllen, Texas. Now the company is expanding its services to Mexico, partnering with the government of Tamaulipas […]