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South Africa’s Digital Bank Tyme concludes Series B round with an additional $ 70 million capital increase

Tymebank, a South African-based digital bank, recently completed its Series B funding round with $ 70 million invested in the company by Tencent and UK development lender CDC Group.

Funds to support Tyme’s expansion into new markets

Tymebank, a South African digital bank, recently raised an additional $ 70 million from its latest round of funding, led by Tencent and UK-based development finance group CDC Group.

This latest capital increase brings the value of the funds Tymebank acquired through Series B to $ 180 million. Prior to this latest investment, Tymebank had received $ 110 million from Gokongwei’s Apis Growth Fund II and JG Summit Holdings.

Meanwhile, after the capital increase, a News24 report says that the digital bank will use the new money to finance its national expansion and facilitate the bank’s entry into other markets.

“The capital and expertise of the two investors will also be used to enhance Tyme’s ability to manage risk and support Tyme’s expansion in markets where CDC is present,” explains a bank statement.

The report adds that Tymebank will also use part of the funds raised to support Gotyme in the Philippines, where it has obtained a digital banking license in association with Gokongwei Group.

Praising the bank’s ability to attract investors, Coen Jonker, co-founder of Tyme, said: “This is a very welcome investment from Tencent and CDC. It’s a clear vote of confidence in our digital banking offering, as well as our leadership teams in South Africa, Singapore and the Philippines. “

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Crypto Wealth Manager Vaneck Launches Polygon and Avalanche Investment Offerings

Wealth manager Vaneck announced that he has expanded his exchange-traded note (ETN) offerings to support the polygon and the flood of tokens. The two ETNs follow five previously launched funds in Europe that allow investors to gain exposure to key digital assets.

Vaneck adds polygon and avalanche to his list of cryptocurrency ETNs

Vaneck announced the launch of two ETNs that leverage the polygon of crypto assets (MATIC) and avalanche (AVAX). The ETNs represent AVAX or MATIC shares and the funds are fully guaranteed. “Vaneck expands its crypto investment offering with two new ETNs on crypto platforms Avalanche and Polygon,” the wealth manager tweeted on December 16.

Avalanche and polygon were in significant demand this year and racked up massive gains for the year. Token Avalanche (AVAX) has seen its market capitalization join the world’s top ten digital assets in terms of overall valuation. Today, AVAX ranks ninth after increasing 3,509% from last year.

Polygon (MATIC) also increased significantly in value in 2021, with year-to-date gains of around 11.393%. MATIC is the fourteenth largest active crypto in terms of market capitalization today, which is around $ 15 billion. Both MATIC and AVAX are compatible with Ethereum, but they are also considered competitors of Ethereum.

Vaneck to Leverage Crypto Compare, Bank Frick’s MVIS Data to Custody Crypto Assets

The ETNs offered by Vaneck are like exchange-traded funds (ETFs), but the ETNs are considered unsecured debt securities. Vaneck tried to get his bitcoin (BTC) ETF approved by the US Securities and Exchange Commission this year, but the ETF was denied in mid-November.

Polygon and Avalanche ETNs use data from Crypto Compare MVIS to replicate the value and performance of each asset. The crypto assets underlying Vaneck’s ETNs are in the custody of Bank Frick & Co. AG. The ticker for AVAX ETN will be “VAVA” and the ticker for MATIC ETN will be “VPOL”.

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The Cash app allows delivery of Bitcoin gifts while on Christmas vacation

Gift offerings are in season, with Christmas and other holidays coming up. If you’ve ever thought about gifting your friends or loved ones with stocks or bitcoins, the Cash app makes it easier than ever.

The Cash app allows a new way to send BTC

Cash App introduced a new feature that will allow peer-to-peer payments between users. Block’s proprietary Cash app (formerly known as Square) allows users to send bitcoins and traditional shares as gifts to other platform users.

To be fair, cryptocurrency exchanges like Coinbase and financial services companies like Stockpile have been doing things like this for years. However, this will be the first time this option will be available through a simple P2P application.

The only thing about this situation is that, under normal circumstances, the Cash app would allow users to simply send bitcoins to any $Cashtag placed on the app. However, it now appears that customers can simply use their attached debit cards or USD accounts to send the BTC in question. This is a big step forward, as the recipient does not necessarily have to own bitcoins or cryptocurrencies to receive the financial gift, nor does the sender have to have it. They can simply pay cash and send the BTC to the right person.

In addition, the initial process of sending bitcoins to a recipient was done through the investment guide of the Cash app. Now all it takes is a cash balance or a debit card to do this. The market value of shares or bitcoins is sent in cash and the user gets the assets from there. If they don’t want to accept stocks or bitcoins, they can finally get the money.

The system doesn’t just work for gifts. Instead, people can also use share and bitcoin delivery options to pay their friends or even split bills. More importantly, this could spawn a new wave of digital currency traders entering the forum and engaging in what is now a dominant financial space.

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Robinhood launches cryptocurrency giveaway program

The Robinhood trading platform is launching a crypto distribution program, which allows users to distribute various cryptocurrencies, including bitcoin, dogecoin, ether, bitcoin cash and litecoin. As with trading cryptocurrencies, freebies are commission-free and users can only offer $1 worth of encryption.

Robinhood Crypto Offering Program

Robinhood on Thursday announced the upcoming release of Robinhood Crypto’s “Cryptocurrency Giveaway Program“.

Users can bid as little as $1 worth of encryption, according to details on the Robinhood website, noting that it can take 3-5 days for the fund to settle. “As with trading cryptocurrencies, giveaways are commission-free,” said Robinhood, adding:

Once you've personalized your unique gift, you can send it directly to your loved one via a special link that will go directly to your phone.

The cryptocurrency distribution program is scheduled to launch on December 22nd. However, cryptocurrency giveaways are not available in Nevada or Hawaii, notes the Robinhood website.

“Once the sender has selected and confirmed the requested amount and cryptocurrency, the sender is solely responsible for sharing a link to the gift, and the recipient can use that shared link to accept the gift”, details the terms and conditions of the Robinhood encryption. gifts. The company added:

Make sure the recipient has a Robinhood Crypto account to accept the gift within 14 days. For unaccepted gifts, don't worry; You will not be billed and still have the bragging rights to distribute cryptocurrencies during the holidays.

Robinhood Crypto currently supports buy, sell and real-time market data for bitcoin (BTC), bitcoin cash (BCH), bitcoin sv (BSV), dogecoin (DOGE), ethereum (ETH), ethereum classic (ETC) and litecoin ( LTC).

Supporters of the shiba inu cryptocurrency meme asked on Change.org for Robinhood to include the SHIB. However, Robinhood has previously said that he was in no hurry to list another cryptocurrency.

Robinhood’s third-quarter transaction-based revenue totaled $267 million, including $51 million from cryptocurrency trading. In addition, 40% of its revenue from cryptocurrency transactions for the three months ended September 30 was attributed to dogecoin transactions.

Earlier this week, Chainalysis announced it had partnered with Robinhood to strengthen the trading platform’s compliance ahead of the release of its cryptocurrency portfolio.

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Idaho’s Largest Credit Union Now Offers Buying and Selling Bitcoins

The functionality was made possible through a partnership between the credit union platform provider and NYDIG.

Idaho's largest credit union has integrated Bitcoin services into its platform.

Idaho Central Credit Union customers can now buy, sell and hold BTC in their bank accounts.

The largest credit union in Idaho, United States, has integrated Bitcoin services into its banking platform, allowing its customers to buy, sell and maintain BTC in their accounts. The new functionality was made possible through a partnership between digital banking solutions provider Idaho Central Credit Union (ICCU), Alkami Technology Inc. and institutional bitcoin broker NYDIG.

“ICCU’s focus on member expertise and providing a wide range of solutions has enabled it to build a reputation as one of the leading credit unions in the country, and its decision to implement bitcoin services implementation through NYDIG and NYDIG Alkami platform can drive this growth, “Patrick. Sells, director of innovation at NYDIG, said in a statement.

Alkami offers cloud-based banking solutions for banks and credit unions across the United States. In June, the company added NYDIG to its Gold Partner program to allow its institutional clients to easily add bitcoin buying and selling capabilities to its platform. ICCU is the last institution to benefit from the partnership and integrate Bitcoin services into its platform, allowing its customers to buy, sell and keep the asset.

NYDIG will provide back-end bitcoin trading and custody services, allowing ICCU customers to gain exposure to the dollar price of Bitcoin. Considering the resource retention aspect, ICCU customers will not be able to keep their purchased BTC, a major disadvantage for those who wish to benefit from the financial independence that Bitcoin allows. As custodian, NYDIG will effectively provide bitcoin promissory notes to ICCU account holders.

The new addition serves as a convenient ramp for reluctant customers looking to gain initial bitcoin exposure. However, over time, there is a natural incentive for investors to buy and hold bitcoin on their own, the only way to truly benefit from Bitcoin’s sovereignty and value proposition of freedom.