Robinhood Attracts $200 Million as Valuation Swells to $7 Billion: Report

By CCN: Who says millennials don’t like to save and invest their money? By building a commission-free stock brokerage and trading app with a slick interface, Robinhood has built a $7 billion business in just six years. That’s the company’s valuation as it nears a $200 million funding round from its current financial backers, Bloomberg reports. The investment round is still unfolding and once complete could reportedly result in Robinhood fetching a valuation as high as $10 billion. Robinhood closed its most recent funding round last year at which time…

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Mike Novogratz’s Galaxy Digital Hires Goldman Sachs Exec to Oversee Blockchain Unit

Mike Novogratz’s crypto investment bank, Galaxy Digital Capital Management, hired Goldman Sachs banker Ian Taylor to oversee the group’s advisory-services arm. Taylor will join Galaxy Digital before January 2019, sources told Bloomberg. Taylor was a managing director at Goldman, where he worked for almost 19 years, according to his LinkedIn profile. At Galaxy Digital, he The post Mike Novogratz’s Galaxy Digital Hires Goldman Sachs Exec to Oversee Blockchain Unit appeared first on CCN

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Gates Foundation Partners Ripple and Coil in Financial Inclusion Initiative

The Bill & Melinda Gates Foundation is teaming up with San Francisco, California-based blockchain firm Coil with a view of enhancing financial access for the unbanked and underprivileged communities. Initially announced by the principal technologist and a deputy director at Bill & Melinda Gates Foundation, Miller Abel, the development was later confirmed by the blockchain The post Gates Foundation Partners Ripple and Coil in Financial Inclusion Initiative appeared first on CCN

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Google-Backed Fintech Startup Uses Bitcoin for Cross-Border Settlement

Veem, a cross-border payments platform that uses bitcoin to move funds among businesses without the need of banks, has raised $25 million in a round led by Goldman Sachs, according to Forbes. The service, which does not require either counterparty to hold bitcoin directly, has quadrupled its revenue in the past year. Also participating in the The post Google-Backed Fintech Startup Uses Bitcoin for Cross-Border Settlement appeared first on CCN

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Barclays and Citi Among the Banks Trialing IBM’s ‘Blockchain App Marketplace’

Tech giant IBM and forex settlement provider CLS are collaborating in testing a platform known as LedgerConnect that will make it possible for banks, software vendors, and fintech firms to deploy, share, and consume blockchain-based software. The platform was developed by IBM in partnership with Hyperledger. Banking giants Barclays and Citi are among two of The post Barclays and Citi Among the Banks Trialing IBM’s ‘Blockchain App Marketplace’ appeared first on CCN

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Thai Bond Market Association to Incorporate Blockchain Technology

The association announced it’s pushing for a fintech platform using blockchain technology. The new registrar system will cut issuance times in more than half. The Thai Bond Market Association (TBMA) plans to implement a new registrar service platform combining financial technology with blockchain technology. There are ongoing plans to put it to practice during the The post Thai Bond Market Association to Incorporate Blockchain Technology appeared first on CCN

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‘A Moral Hazard’: Bank of Korea Opposes Central Bank Digital Currency

The Bank of Korea (BoK) has revealed it is against the idea of issuing a central bank digital currency following a feasibility review. South Korea’s central bank isn’t keen on issuing a central bank digital currency (CBDC) citing concerns related to its impact on the basic mechanics of monetary policy and implementation as well as The post ‘A Moral Hazard’: Bank of Korea Opposes Central Bank Digital Currency appeared first on CCN

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Ant Financial Raises $14 Billion to Boost Blockchain Development

Alibaba subsidiary Ant Financial just cashed-in on a historic $14 billion Series C funding round, and the Alipay creator says that part of this warchest will be used to boost blockchain development. Ant Financial announced last Friday it has reached a definitive agreement with its investors for its Series C in the total amount of The post Ant Financial Raises $14 Billion to Boost Blockchain Development appeared first on CCN

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