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Visa, Blockchain Capital, and Others Back $40 Million for Anchorage Crypto Custodian

Coinspeaker Visa, Blockchain Capital, and Others Back $40 Million for Anchorage Crypto CustodianRecently, Anchorage confirmed the closure of their Series B funding round which raised around $40 million from companies such as Visa, Blockchain Capital, and Andreessen Horowitz. These companies have reportedly led the funding round. All-together, since 2017, the company has raised more than $57 million in funding.“Our mission at Anchorage is to advance institutional participation in the digital asset class, and this funding will improve our ability to do precisely that. To have the support of pioneering organizations like Visa and Blockchain Capital is a validation of Anchorage’s vision for the emerging economy of digital assets,” commented Diogo Monica, the co-founder of Anchorage.This funding will be meant for building Anchorage’s service. The company is willing to provide all digital assets to its customers. Also, they want to integrate offerings with other financial firms and develop auditing and compliance.An interesting fact is that Visa is lately getting in various crypto-related projects. As it is reported, Visa is one of the first partners with Facebook helping with their Libra Project and have joined the Libra Association. They also will be one of the few Libra Node operators.Now, Visa is also backing Anchorage and seems very happy about their decision:“This investment is consistent with Visa’s global strategy to partner with and invest in emerging fintech companies. We’re pleased to add Anchorage to our growing investment portfolio,” explained Terry Angelos, SVP and global head of fintech at Visa.Anchorage offers a custodial solution and they claim that they have designed and built the next generation of crypto assets. And plus all that, their custody solution is included in the Libra Association.“We believe Anchorage is the safest place to hold digital assets, having modernized crypto custody beyond physical cold storage with advanced security engineering. We are leading this investment because we believe Anchorage will have a transformative impact on the financial world,” commented Bart Stephens the co-founder and managing partner of Blockchain Capital.Moreover, the company CEO believes that the cold-storage private key storing as we know it, won’t meet the requirements of institutions operating with crypto in the future. He believes that users want to make voting decisions and govern decisions in various protocols like Tezos and Maker, for example.“They want to help the protocol succeed; they can’t do that if their keys are just buried in the backyard,” referring to the outdated system in cryptocurrencies said Monica.Visa, Blockchain Capital, and Others Back $40 Million for Anchorage Crypto Custodian

Visa and Blockchain Capital Lead $40 Million Round in Anchorage

Payment processor Visa along with specialist VC firm Blockchain Capital helped Anchorage, an institutional custodial service, raise nearly $40 million in capital at an undisclosed valuation. Visa recently launched a cross border remittance network with a pseudo-distributed ledger. This move shows their optimism that more institutions will look to gain exposure to crypto, as reportedRead MoreRead More. The post by Ashwath Balakrishnan appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News\
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Visa, Blockchain Capital back $40 million round for crypto custodian Anchorage

Anchorage, the cryptocurrency custody provider for institutional investors, has raised $40 million in Series B funding, according to an announcement on Wednesday.  Payments giant Visa and venture firm Blockchain Capital have backed the round, with participation from existing investors such as Andreessen Horowitz (a16z Crypto). It is interesting to note that Anchorage, Visa and Andreessen Horowitz are all validator nodes for Facebook’s upcoming cryptocurrency Libra. However, that is not the reason why Visa invested in Anchorage, the custodian told The Block. The investment will go toward supporting “all digital assets and crypto-native features,” including staking and on-chain governance; integrating custody service with other financial offerings; and investing further in auditing and compliance measures, Anchorage said.  Accounting, tax preparation and auditing are “major pain points” for institutional investors who want to add digital assets to their portfolios and solving these issues will speed up adoption, according to the firm. “Our mission at Anchorage is to advance institutional participation in the digital asset class, and this funding will improve our ability to do precisely that,” said co-founder and president Diogo Monica. Anchorage came out of stealth mode earlier this year, and claims to offer a “smart storage” solution that is better than “hot wallets” and “cold storage” solutions. The firm recently said that it has incorporated a "custom logic" in its hardware security module (HSM), which processes a given transaction only by following “multiple layers" of biometric authentication. This approach allows clients to use their keys for transactions, audits, staking, voting and more, “in real time and without ever being removed from safe storage." Anchorage rivals Coinbase and BitGo, on the other hand, custody clients’ assets in cold storage. Custody is a tough space to be in, Sam Jernigan, Co-CIO of Wakem Global Opportunities Fund, a macro hedge fund that trades digital assets, told The Block recently. “Just since the summer of 2018, we’ve seen the cost of custody decline anywhere between 50 and 100 basis points,” he said.  Wednesday’s investment round brings Anchorage’s total funding to $57 million, having previously raised $17 million in a Series A round led by a16z, with participation from Khosla Ventures, PayPal co-founder Max Levchin’s SciFi VC and AngelList co-founder Naval Ravikant, among others.
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Coinbase Custody Now Includes Blockchain Capital’s BCAP Digital Security Support

Coinbase Custody Adds BCAP Coinbase Custody's decision to support the BCAP token has assured investors that they have a reliable service that will store their BCAP tokens, but this is not all as they will also be able to withdraw and deposit. Since the beginning, having a reliable custody solution has been considered to be […]
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Coinbase Custody Adds Support for Digital Security ‘BCAP’

BCAP Support In a move important to the world of digital securities, Coinbase has just announced the immediate support for BCAP tokens on Coinbase custody. This means that investors now have a reliable service to not only store their BCAP tokens, but to deposit and withdraw them as well. Ideally, this announcement of support will have broken the ice – meaning we will hopefully see Coinbase Custody bring support for an increasing amount of similar tokens. Custody Solutions Since day one, reliable custody solutions have been noted by many as one of the major hurdles to achieving mainstream adoption of digital securities. Recognizing this, various companies have been working hard to develop their own solution. Coinbase custody represents one of these offerings, and in its short time since launch, has become one of the industry’s most popular services. To date, Coinbase custody manages over $1 billion in funds, represented by over 30 assets – now including BCAP. Commentary Coinbase Custody now supports deposits and withdrawals for $BCAP — Coinbase Custody (@CoinbaseCustody) June 5, 2019 Beyond the Coinbase tweet, multiple noteworthy names in the sector commented on the announcement. This includes, both, Carlos Domingo (CEO of Securitize) and Jamie Finn (President of Securitize). Great news for the ecosystem, @coinbase now supporting securities issued by @Securitize DS protocol starting with @blockchaincap BCAP token. — Carlos Domingo (@carlosdomingo) June 5, 2019 A much needed piece of the Digital Securities Puzzle is coming together. Very proud to have @Securitize DS tokens supported by @CoinbaseCustody — 🙈 Jamie Finn (@finnstr) June 5, 2019 BCAP Beyond the service they offer, Blockchain Capital is notable as they represent one of the very first security tokens to be offered to investors. This digital security was developed through use of the ‘DS Protocol’ – a product of industry leading issuance platform, Securitize. The BCAP token represents fractionalized ownership in an investment fund, tailored around companies within the blockchain industry. For a full look at the BCAP portfolio, check out the list HERE. Company operations are headquartered in San Francisco, and overseen by Managing Partners, P. Bart Stephens and W. Bradford Stephens. Coinbase Coinbase is a Seattle based company, which operates as a service provider within the world of cryptocurrencies and blockchain. These range from merchant services, to custody solutions, and trading capabilities. Despite their standing within the industry, and the services developed by their team, Coinbase has notably struggled to retain talent in recent months. We have seen the departure of multiple high-level employees. The most recent of which is the Coinbase CTO, Balaji Srinivasan. Company operations are overseen by CEO, Brian Armstrong. In Other News Custody solution are a vital component to creating a flexible and reliable foundation within digital securities. Here are a few articles discussing the adoption, and launch, of various custody solutions over recent months. TokenSoft Announces ‘Knox Wallet’ – A Mobile Custody Solution for Security Tokens Copper to Provide Security Token Custodial Services to Swarm TokenSoft Global Markets adds Coinbase Custody, Expanding Security Token Services The post Coinbase Custody Adds Support for Digital Security ‘BCAP’ appeared first on .

Coinbase Custody Supports Blockchain Capital’s BCAP Security Token

Coinspeaker Coinbase Custody Supports Blockchain Capital’s BCAP Security TokenIn a very brief tweet, Coinbase Custody yesterday announced that now they are fully accepting Blockchain Capital’s security token BCAP for deposits and withdrawals.As they describe themselves, Coinbase Custody “is an independent, NYDFS-regulated entity built on Coinbase’s crypto-first DNA, offering the most sophisticated and reliable custody solution in the world,” says in their website.At the moment, Coinbase Custody supports 25 different crypto assets, including the top 5 most popular cryptocurrencies along with Basic Attention Token, Zilliqa, FOAM Token, Kin, Props token, and others. This way Coinbase is strengthening their positions as an all-out digital asset platform which now supports Security Tokens.Blockchain CapitalBlockchain Capital is one of the oldest and most active venture investors in the blockchain industry and has financed 75+ companies and projects since its inception. Additionally, BCAP is the very first Security Token and conducted one of the very first STOs (Security Token Offering) in the crypto ecosystem. The token sale occurred on April 10, 2017, and was sold out after 30 minutes. In total, they raised $10 million, and the initial token price was $1 for 1 BCAP.Blockchain Capital’s active investment portfolio has a lot of major leading crypto companies, including BitFury, ABRA, Kraken, Messari, ShapeShift, Ripple, XAPO, 0x, and of course Coinbase.Coinbase Shows Interest in XAPO’s Bitcoin Custody BusinessReferring to recent reports, Coinbase is in talks with a custody provider XAPO. The company is about to soon buy the custody provider for about as much as $50 million. Currently, they are negotiating, but it’s fair to say that the deal is almost finished. Xapo, founded in 2014, provides a Bitcoin wallet and a cold storage vault. The company declares that it holds $10 billion in crypto assets for its more than 1.5 million customers around the world. If the deal ends by signing the acquisition, Coinbase will get approximately 700,000 Bitcoin.Also, in other news, Coinbase recently added EOS to their platforms, including Coinbase Earn. This gives crypto enthusiasts the ability to earn free EOS just by watching educational videos about EOS. Coinbase Earn also includes lessons about Stellar, Zcash, Basic Attention Token, 0x, and now EOS as well. Coinbase Earn was initiated in April 2018 by Balaji Srinivasan.All-in-all, Coinbase is strengthening their positions as one of the largest and most profitable companies in the crypto environment. They started out in 2012 and today is used by more than 20 million people all around the world. To this day, for some, this is the easiest way how to purchase cryptocurrencies, so it is safe to say that Coinbase is actively encouraging mass-adoption.Coinbase Custody Supports Blockchain Capital’s BCAP Security Token
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