#CryptoCorner: Circle Looking to Deploy $100 Million Venture Fund, Libra Backers Questioning Support Amid Regulatory Pressure, Pundi X Expanding Payments throughout Venezuela
#CryptoCorner: Circle Looking to Deploy $100 Million
Venture Fund, Libra Backers Questioning Support Amid Regulatory Pressure, Pundi
X Expanding Payments throughout Venezuela
Point Roberts, WA, Delta BC, August 23,
2019 - Investorideas.com, a leader in crypto and blockchain investing news
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Stocks discussed: (NasdaqGS:FB)
Crypto firm Circle
is looking for a general partner to raise and deploy a $100 million USD venture
fund for its equity crowdfunding platform SeedInvest, according to a recent LinkedIn posting. Acquired
by Circle in March this year, SeedInvest has funded over 150 startups and has a
network of over 250,000 investors.
A Financial
Times
piece reports that three backers of Facebook’s (NasdaqGS:FB) Libra project have questioning
their support in the wake of considerable regulatory pressure, according to
coverage from Cointelegraph. One of the
partners, who remained anonymous, told the Financial Times:
“I think it's going to be difficult for partners who
want to be seen as in compliance [with their own regulators] to be out there
supporting [Libra].”
Another partner,
who also went unnamed, said:
“Some of those conversations [about regulation] should have
taken place before the launch, to understand how regulators would think about
this, so there wasn’t so much pushback.”
Crypto payments
provider Pundi X is expanding to allow payments in Venezuela, according to a
company blog
post.
The company’s blockchain-powered payment device, XPOS, is being implemented by
Traki, which operates Venezuela’s largest chain of department stores with 49
locations. Zac Cheah, Co-founder and CEO of Pundi X, commented:
“Traki has been one of the early adopters of
cryptocurrencies in Venezuela, which highlights its commitment to improve the
traditional financial system. We hope the XPOS further expands the crypto use
cases that customers have come to expect from Traki.”
Gabriel Falcone,
representative of Pundi X Venezuela, said:
“With this recent partnerships with Traki we are
beginning the execution of an ambitious plan that includes the introduction of the
revolutionary Pundi X Platform, XPOS and XPASS in businesses connected to
people’s everyday life, such as food and beverages, supermarkets, pharmacies,
tourism, health, among others. Soon we will see more announcements from Pundi X
in Venezuela, as well as, key partnerships that will benefit all users and
merchants.”
BNN
Bloomberg
reports that Rwanda’s central bank is eyeing the possibility of creating its
own digital currency. The country’s Financial Stability Director-General Peace
Masozera Uwase said:
“There are still concerns about how exactly you convert
the entire currency into digital form, how to distribute that and how fast can
you process those transactions. Challenges come in, if technology is down how
do you deal with such issues? We will join in once we are ready.”
Sam Mowers,
Investorideas
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