JPMorgan, Mastercard, & UBS Invest in ConsenSys’ $65M Round to “Accelerate the Convergence” of DeFi and Traditional Finance

JPMorgan, Mastercard, & UBS Invest in ConsenSys’ $65M Round to “Accelerate the Convergence” of DeFi and Traditional Finance

ConsenSys, an Ethereum software company, announced the closing of a $65 million round to “accelerate the convergence” of DeFi and Web3 applications on Ethereum.

The companies that took part in this funding involve J.P. Morgan, Mastercard, UBS, Protocol Labs, the Maker Foundation, Fenbushi, The LAO, and Alameda Research.

“Enterprise Ethereum is a key infrastructure on which we and our partners are building payment and non-payment applications to power the future of commerce,” said Raj Dhamodharan, Executive Vice President of Digital Asset and Blockchain Products and Partnerships at Mastercard.

Other investors include CMT Digital, Greater Bay Area Homeland Development Fund, Quotidian Ventures, and Liberty City Ventures.

Interestingly, several funds invested with Ethereum-based stablecoins, DAI and USDC, read the official announcement by the tech company.

“We are proud to partner with preeminent financial firms alongside leading crypto companies to further converge the centralized and decentralized financial domains at this particularly exciting time of growth for ConsenSys and the entire industry,” said Joseph Lubin, founder of ConsesnSys who co-founded Ethereum. ETH 7.13% Ethereum / USD ETHUSD $ 2,302.61
$164.187.13%
Volume 29.46 b Change $164.18 Open $2,302.61 Circulating 115.46 m Market Cap 265.85 b
3 h CoinList’s Rally Network Liquid Token Sale Attracts 40k Users to Buy $22 Million in RLY 5 h JPMorgan, Mastercard, & UBS Invest in ConsenSys’ $65M Round to “Accelerate the Convergence” of DeFi and Traditional Finance 8 h CoinShares is Launching an XRP ETP (XRPL) as the Digital Asset Nears $2

The company currently has a headcount of 360 and plans to add another 100 employees by the end of this year.

ConsenSys’ list of products includes MetaMask with over 3 million monthly active users across, more than 150,000 developers use Infura’s APIs, and millions of developers using Truffle to create and deploy smart contracts. Meanwhile, its Protocols group, which develops Hyperledger Besu and Quorum, is building Central Bank Digital Currencies (CBDCs) for six central banks.

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Author: AnTy

BlackRock Discloses Bitcoin Exposure in SEC Filing; Holding .5M in CME BTC Futures

BlackRock Discloses Bitcoin Exposure in SEC Filing; Holding $6.5M in CME BTC Futures

The world’s largest asset manager BlackRock with $8.7 trillion in assets under management (AUM), disclosed in its latest filing with the US Securities and Exchange Commission (SEC) that it already has exposure to Bitcoin.

As the investment giant said earlier this year that they have “started to dabble,” the filing published on Wednesday indeed showed that.

The asset manager that held $6.5 million in CME Bitcoin futures contracts at the beginning of 2021 has these appreciating about $360,457 on reporting day. These holdings, however, are just 0.03% of BlackRock’s Global Allocation Fund.

It was in January they gave two of its funds the green light to trade Bitcoin futures.

Ever since last year, when corporates and legendary investors started warming up to Bitcoin, BlackRock also showed its interest in the leading cryptocurrency.

While the fund CEO Larry Fink had said they are watching Bitcoin and that it can become a store of value, the BlackRock CIO Rick Rieder noted that three is clearly greater demand for BTC than supply, which can even replace gold one day.

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Author: AnTy