Big Plans, Careful Moves (Investment and Partnership Digest, Nov 15—21)

Besides gaming news: KuCoin completing round A investments, Binance investing $3M in OTC, Bilbao-city offering a grant for a blockchain project, IBM and Columbia University creating accelerator programs, an Israeli institutional investor setting up two funds, Parker Wright to raise $250M, KMPG emphasises on the importance of institutional investors

  • KuCoin announced it has secured $20 million in Series A funding round.  According to the exchange, the funds will be used to create a more secure global platform. The round is led by investors such as IDG Capital, Neo Global Capital, and Matrix Partners.
  • Binance Labs released a press release stating Binance invested $3 million in Koi Trading. Koi Trading is a San Francisco-based, over-the-counter cryptocurrency trading desk which seeks to be the choice for private cryptocurrency liquidity. Aside from providing liquidity, the trading firm provides quantitative research, data science, and compliance consultation services.
  • Mythical Games released a statement conveying it has raised $16 million in Series A funding round. The round was led by Digital Galaxy. The acquired capital will be used to produce new games on the blockchain that will enable players and developers to modify certain game aspects.
  • Blockade Games gears up to present the Marguerite deCourcelle led project, Neon District, a blockchain-based video game. The game is valued at $13 million. Blockade Games is also working on a new game, Buidl Bear.
  • IBM and Columbia University revealed two accelerator programs to assist innovation of startups. The programs will each support 10 startups and provide business mentors, technical support, talents from Columbia University, and resources from IBM’s cloud technology.
  • Bilbao, located in the North of Spain, offered a €150,000, approximately $171,000, tender to build a public services blockchain within 6 months. The company who will win the contract has to develop a network akin to EJIE to help local authorities process data exchange from separate public institutions.
  • Silver Castle, the first institutional investment firm from Israel, sets into motion two crypto funds. Silver Castle sees the current bear market as an opportunity for institutional investors to enter the market with reduced risks. Eli Mizroch, the firm’s CEO, is certain the market is ideal for large-scale investments.
  • A global investment firm, Parker Wright, will raise funds amounting to $250 million on the CDRX platform. An agreement signed between Parker Wright and CDRX affirms the said amount will be used for the investment firm’s Quantitative AI fund.
  • Security Token Network released a curated list of firms who have invested in Security Token Offerings (STO) and other related projects. Firms in the list include INDX Capital, Pantera Capital, Swarm Fund, and Sequoia Capital.
  • KMPG, a Netherlands-based auditing firm, released a report: Institutionalization of Cryptoassets. The report emphasized the importance of institutional investors in the growth of the cryptocurrency industry.

Related news

Latin America’s Biggest Investment Bank Partners Gemini to Launch Its Own Security Token

CoinSpeaker Latin America’s Biggest Investment Bank Partners Gemini to Launch Its Own Security Token Today more and more traditional banking institutions are entering the crypto world with a view to satisfy the growing market demand for new services and offerings. As it has been revealed the major investment bank in Latin America called Banco BTG Pactual SA also has taken a decision to join the industry and to launch its own blockchain-based security token via a STO which is viewed as a version of an ICO but a more regulated one. In its STO the bank expects to raise $15 million. What Is Known about New Token According to the announcement made by the bank, its security token will be known as ReitBZ and it is said to be backed by the bank and distressed real estate assets in Brazil. With the help of ReitBZ, the bank is planning to provide international investors with an opportunity to get access to the country’s real estate market paying less that it is presupposed by traditional means of investments. To carry out its project the bank has entered in a partnership with Gemini, the company established by Cameron and Tyler Winklevoss. Those investors, who want to purchase the token, will need to do it via a digital platform. It will be allowed to pay for the token using Gemini Dollar, which is a stablecoin pegged to the U.S. dollar, or Ethereum,  one of the major ctyptocurrencies in the world by the market cap. It is known that investors will get dividends from the recovery of the distressed assets that the token is backed by and this procedure will be handled by Enforce operated by BTG. According to the statement, investors from all over the world, except of Brazil and U.S. at first, will get a chance to become holders of the new token. Market-making services for the token will be provided by the bank. Gustavo Roxo, BTG’s chief technology officer, commented their new initiative the following way: “BTG is deploying its own capital to provide liquidity because it really believes in the crypto business. We came up with this structure because we think investors in the digital world have a higher risk-taking appetite.” Tyler Winklevoss, Gemini CEO, also made his comments: “The tokenization of real assets is a major step forward in the evolution of the crypto economy. … Working with BTG Pactual to leverage the Gemini dollar as the stablecoin for ReitBZ helps move the industry in the right direction.” The initial offering period for the perpetual ReitBZ token is planned to last for approximately 90 days. And the bank will allocate its raised funds to reinvest the distressed portfolio. Banks’ Digital Coins As we have already mentioned, BTG is not the first bank to develop its own digital assets. Though the situation on the crypto market still doesn’t look very optimistic, last week JPMorgan Chase & Co. introduced its prototype digital coin.  It is said that the coin will help to increase the speed of transactions between corporate customers. *Our comprehensive guide will help you to understand the notion of STO, its aims and working principles. To find out the information about  the latest Security Token Offerings (STOs) follow the link to check Coinspeaker’s STO Calendar Latin America’s Biggest Investment Bank Partners Gemini to Launch Its Own Security Token
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