7.7M Archives

Account Labs raises .7M as FTX’s demise leads to crypto self-custody growth

Account Labs raises $7.7M as FTX’s demise leads to crypto self-custody growth

Published by skeptic

The collapse of the FTX empire didn’t just set in motion a crypto market downturn. The unraveling of FTX’s misuse of customer funds also exposed the risks of using crypto wallets controlled by centralized trading platforms, prompting users to seek self-custodial wallets. As their name implies, self-custodial wallets allow users to have full control over their digital assets. While FTX’s demise and the subsequent troubles of its affiliated companies have dampened the crypto market, there’s no lack of wallet solutions still trying to vie users. One such player is Account Labs, which today is announcing its fresh $7.7 million Series Pre-A funding round. The investment is led by investors from both the web3 and established internet tech arenas, namely, Amber Group, MixMarvel DAO Ventures, and Qiming Ventures. The crypto wallet space has started to see signs of consolidation as centralized exchanges and established wallet solutions look to meet new user demand, particularly the combination of asset control and friendly interface, which weren’t possible until recent technical upgrades in the blockchain community. Legacy wallet players are …

Instant bank payments startup Ivy secured .7M in Seed round led by Creandum

Instant bank payments startup Ivy secured $7.7M in Seed round led by Creandum

Published by skeptic

Ivy, an API for instant bank payments, has secured €7 million ($7.7 million) in a seed investment round led by European VC Creandum. Payment and transaction fees can rack-up because of card networks, gateways and wallets that are all involved in today’s online transactions. Ivy’s solution is to allow merchants to accept instant bank payments literally at the checkout. That means the ‘middle-men’ transaction fees can be substantially reduced, and the transaction speed increased, claims the startup. In a statement Ferdinand Dabitz, Co-Founder Ivy said: “In ten years, trillions of dollars worth of payments will be paid by bank, not by card – a major shift Ivy will drive. Currently, over 60 countries worldwide are rolling out instant payment systems enabling this.” Ivy’s global API is currently available in Europe, the U.S., MENA and SEA regions. Simon Schmincke, General Partner at Creandum said: “Account-to-account payments are just getting started. What began with Open Banking in Europe has now become a global movement, with rails around the world becoming increasingly mature. Having looked at several legacy players as well …

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Account Labs raises $7.7M as FTX’s demise leads to crypto self-custody growth

Instant bank payments startup Ivy secured $7.7M in Seed round led by Creandum