Blockchain startups see massive funding

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Zip Co Ltd, Australia’s Buy Now, Pay Later (BNPL) company, wants to give users the ability to trade cryptocurrencies, according to a Reuters report.

Zip said it plans to offer the service next year in the United States due to strong market growth in the fourth quarter for the company there with Australia.

Co-founder Peter Gray said the reason for the new offering is that crypto trading with Zip digital wallets has been one of the new features most requested by users.

We know our younger generation of customers are looking for additional products and services that are relevant to them, Gray told Reuters.

Meanwhile, blockchain startups saw a massive influx of funding in the second quarter, surpassing $ 4 billion, according to CNBC.

Fundraising for companies in this sector increased by more than 50% compared to the previous quarter.

The biggest funding round for a blockchain company came from a $ 440 million investment in digital currency and payments firm Circle, which also recently rolled out its intention to go public via a 4.5 million SPAC merger. billions of dollars.

Then there was Ledger, which raised $ 380 million. Ledger specializes in hardware wallets that allow users to store their digital currencies. Ledger CEO Pascal Gauthier recently said that major industries are now moving into crypto.

In addition, JP Morgan Chase would now let advisers execute crypto trades for more clients, according to a report from Cointelegraph.

A person familiar with the move said it means clients looking for financial advice will now have the option of investing in crypto.

This includes clients managed by financial advisers, retail investors using the trading application, and clients served by private banking.

The move comes after another report revealing that many JP Morgan clients have come to view cryptocurrency as an asset class. It has come a long way since CEO Jamie Dimon called crypto a “fraud” in 2017, Cointelegraph reports.

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