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Cryptocurrency firm MoonPay receives investments from Justin Bieber, Bruce Willis, and Maria Sharapova, among others

Cryptocurrency payment platform MoonPay recently announced that it has raised $87 million from around 60 A-list celebrities. Investors include singers like Justin Bieber and Snoop Dogg, tennis player Maria Sharapova, and actors like Bruce Willis, Ashton Kutcher and Gwyneth Paltrow.

In raising funds, MoonPay attempted to expand the role of non-fungible tokens by increasing fan engagement through content creation. MoonPay got 16% of the funding from celebrities alone.

MoonPay raised a total of $555 million in Series A funding, led by Tiger Global Management and Coatue Management, in November of last year. At the current time, the cryptocurrency startup is valued at $3.4 billion after the completion of the recent funding round.

Other celebrities on MoonPay’s investment list

Other investors in the cryptocurrency company include Drake, Eva Longoria, Jason Derulo, Kate Hudson, Paris Hilton, Matthew McConaughey, Mindy Kaling, Questlove and Shawn Mendes, The Chainsmokers, among many other influential investors.

MoonPay was founded in 2018, the company is based in Miami. The cryptocurrency platform allows users to buy and sell cryptocurrencies using conventional payment methods such as debit cards, credit cards, and bank transfers or even mobile wallets.

The platform also accepts payments through Google Pay and Apple Pay. MoonPay, which also provides payment infrastructure for crypto and NFT transactions, facilitates transactions between individuals and crypto businesses and has sold its technology to Bitcoin.com and NFT marketplace OpenSea.

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PayPal CEO Predicts Cryptocurrencies Will Revolutionize Global Financial System

The CEO of one of the world’s largest payment providers predicts that cryptocurrency technology will revolutionize financial systems globally.

Ahead of Axis Tel Aviv’s international investment conference, PayPal CEO Dan Schulman told interviewers that he has high hopes for cryptocurrencies in the future.

“I am very excited about what cryptography and digital accounting technology can do for the financial system in the future…”

Schulman’s high hopes for crypto go far beyond Bitcoin (BTC) trading and into the realm of real-world use cases such as crypto as payment options.

“I think the initial things that everyone thinks about cryptocurrencies, buying and selling, and what is the price of Bitcoin tomorrow, that’s the least interesting part of digital currencies for me. This is thinking of digital currencies as an asset class. To me, the really exciting thing about digital currencies is the kind of utility they can provide in payments.”

Specifically, the payments giant’s CEO believes that central bank digital currencies (CBDCs) and digital wallets have the power to redefine everyday financial interactions.

“Clearly, around the world, central banks are considering issuing digital currencies. The intersection of CBDC, stablecoins, digital wallets and the enhanced utility of cryptocurrency payments is not only fascinating, but I think it will redefine much of the financial world going forward.”

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PayPal joins other payment and remittance providers in suspending services in Russia

Several payment and remittance platforms, now including PayPal, have restricted access to their services in Russia as Western sanctions over Moscow’s invasion of Ukraine continue to expand. Fintechs have been limiting operations in the Russian Federation as well in response to Kiev’s call for help.

Payments giant Paypal stops services in Russia and keeps withdrawals for now

Paypal, the global online payments provider, has joined a growing list of fintechs backing Western sanctions against Russia for its decision to invade neighboring Ukraine. The company, which offered Russians only international transactions, canceled its services in the Russian Federation on Saturday.

Cited by Reuters, President and CEO Dan Schulman explained the measure in “current circumstances”, noting that Paypal supports the international community and condemns Russia’s military aggression against Ukraine. The platform stopped accepting new users based in Russia earlier this week.

Through a spokesperson, Paypal added, however, that withdrawals will be supported for an unspecified period of time. The payments giant aims to “ensure that account balances are dispersed in accordance with applicable laws and regulations.”

The announcement follows calls from Kiev authorities to suspend services in Russia and support Ukraine’s fundraising efforts. The US-based California-based company revealed ahead of the weekend that it “has helped raise more than $150 million for charities supporting response efforts.” The Ukrainian government and local NGOs have also received millions in cryptocurrency donations.

Paypal’s move comes after other payment and remittance platforms already suspended certain services in Russia in late February. This includes Wise, which processed international payments for Russian users, and Remitly, which made it easy to send funds.

UK-based fintech Wise initially imposed a daily cap of £200 ($265) on transfers to the Russian Federation, but later suspended all money transfers as the US and its European allies imposed further restrictions on the system. financial situation, including the expulsion of some Russian banks. of the SWIFT interbank payment system.

As a result of the tougher sanctions, Remitly has also suspended support for money transfers to Russian recipients. Other remittance service providers have also introduced similar measures, including Transfergo and Zepz.

According to crypto media reports, UK-based Revolut has suspended payments to Russia and its ally Belarus, while an advertisement on its websites indicates the fintech is doing everything it can to ensure its users can send money to Ukraine. In a blog post, the company’s CEO, Nik Storonsky, highlighted its Russian and Ukrainian roots and expressed its opposition to the war.

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Face Pay will launch new digital currency

Face Pay Inc., a company seeking to help credit card companies avoid or eliminate third-party fees, has announced that it will launch its own cryptocurrency known as Face Pay Crypto.

Face Pay launches a new encryption system

The company made headlines about two years ago when it launched a new fixed-price subscription service. Now, the company will enter the digital asset market so customers can buy using currencies like bitcoin, Ethereum, and similar altcoins. Your new cryptocurrency must be built on a private Ethereum network.

The goal is to help your customers keep transactions simple and straightforward. Face Pay seeks to help its customers avoid additional fees of any kind so that both parties can make quick and direct payments. Doing this through blockchain technology will also help with the fact that the blockchain is completely verifiable. Thus, all transactions will be irreversible, preventing them from being susceptible to fraud, chargebacks and other dispute processes.

Dr. Mark Hale, the founder of Face Pay, explained in an interview:

We found out how to provide the advantages of bitcoin and other cryptocurrencies on the platform, while keeping the mechanics direct payout. Consumer cryptocurrency will only increase over time, and garages need to invest in the right technology to take advantage of it. Otherwise, bitcoin will be just another payment method that costs stores money. Every direct payment made with Face Pay results in a transaction that is 15 to 20 percent more profitable… I see Face Pay as a means of preventing crypto payments from being integrated into the outdated transaction model it offers the credit card processor oligopoly. When Face Pay is an integral part of the store's workflow, stores begin to see big savings. Additionally, 63% of consumers prefer this type of payment relationship with their service providers.

Greg Buckley is a Face Pay customer and owner of Buckley’s Auto Care. He too threw his two cents into the mix, saying:

We all need to be at the forefront of our customer experience. Digital and contactless payment methods are everywhere today. The adoption rates of these transactions are constantly increasing. The Face Pay platform allows me to save money while remaining comfortable and secure. Face Pay is the right payment technology now and for the future.

Crypto payments are going mainstream

He is particularly excited about the developments, as he is not aware of any other companies at the time of writing that offer blockchain capabilities for companies in the automotive industry.

Credit card companies have seen big rate increases over the past year due to high inflation. Companies say they can expect to see more in the coming weeks, and with the popularity of cryptocurrencies, this could be your chance to save.

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Nested NFT-Based Crypto Social Trading Platform Raises $7.5M

Nested, a financial NFT-based cryptocurrency social trading platform, announced today that it has raised $7.5 million in a Series A funding round. The round was led by macro and digital asset investor Alan Howard and also it had the participation of Republic Capital, Kenetic Capital and CMT Digital, among others.

The platform allows users to easily create token wallets, track their performance, add, sell and trade tokens, and sell the underlying value of these wallets at any time.

Also, since all nested portfolios are minted as NFTs, called ‘NestedNFT’, they can be easily discovered on the platform and used as a mechanism to gamify and strengthen communities, allowing creators to share or upload them as gifts. or reward. .

Remarkably, Nested allows users to explore profiles, portfolios, and replicate their favorite strategies. For DeFi users, influencers, or community leaders, the platform allows them to showcase portfolios, results, share insights, and earn royalties every time a portfolio is replicated.
By using NFTs, Nested aims to make it easier to manage a diversified portfolio of cryptocurrencies.

Nested's vision is to hybridize traditional finance, decentralized finance, NFTs and cryptocurrencies to forge a financial product that is both powerful and unique: the Nested Wallet. This is a tradable, shareable and replicable portfolio that can be managed and monetized by both advanced and novice crypto investors.”

– Rudy Kadoch, founder of Nested Finance

Proceeds from the funding round will be used to build the nested team and introduce new product enhancements such as portfolio leaderboards, staking, underlying asset lending, decentralized limit orders, and more types of social features such as user profiles and integrated messages.

Nested has already launched on Polygon, Binance Smart Chain, and Avalanche, and plans to continue adding support for more networks. After a successful multi-month beta testing period in which Nested underwent several independent security audits, the platform is now available for use.