Traditional Finance Doubles Down on Blockchain Infrastructure

Traditional Finance Doubles Down on Blockchain Infrastructure

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by Maria Fernandez

a year ago

Made with AI

As regulatory frameworks for blockchain technology continue to solidify in major markets, financial giants are stepping up their investments in blockchain-based payment solutions. This trend highlights a growing confidence in the potential of digital currencies and decentralized finance, as evidenced by the insights shared in the document.

Fnality Raises $136 Million in Series C Funding

In a significant development, Fnality, a blockchain payments company, raised $136 million in a Series C funding round. The investment was spearheaded by prominent financial institutions including:

  • Bank of America
  • Citi
  • Temasek
  • KBC Group
  • WisdomTree
  • Tradeweb

This signals strong institutional support for blockchain innovations.

BVNK Secures Investment from Citi Ventures

Furthermore, on October 9, BVNK, a London-based stablecoin infrastructure firm, announced a new investment from Citi Ventures. This funding round has reportedly valued BVNK at over $750 million, underscoring the increasing interest from major players in the stablecoin sector and the broader blockchain ecosystem.

In a notable development, Fireblocks has recently acquired Dynamic for approximately $90 million, expanding its cryptocurrency services to consumer applications. This move contrasts with the institutional focus seen in Fnality's recent funding round. For more details, see further information.

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