Generative Art Platform Fxhash Secures $5M in Seed Funding Round Led by 1kx
The Seed Round Fxhash, the groundbreaking generative art platform and marketplace, has successfully closed an oversubscribed $5 million seed fundraising round. Spearheading this investment initiative was 1kx, an early-stage crypto-focused venture capital firm renowned for its strategic ecosystem growth investments. Founded in 2021, Fxhash has emerged as the...
Baanx, Supported by Tezos Foundation, Raises $20M to Broaden Crypto Payment Horizons
Baanx, a pioneering cryptocurrency payments company endorsed by the U.K.’s Financial Conduct Authority (FCA), has secured a significant financial boost with a $20 million Series A funding round. This strategic investment was led by notable entities including Ledger, the Tezos Foundation, Chiron, and the British Business Bank. The move marks a significant milestone for Baanx, elevating its total funding to over $30 million.
By: XTZ News
5 March 2024
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Baanx, a pioneering cryptocurrency payments company endorsed by the U.K.’s Financial Conduct Authority (FCA), has secured a significant financial boost with a $20 million Series A funding round. This strategic investment was led by notable entities including Ledger, the Tezos Foundation, Chiron, and the British Business Bank. The move marks a significant milestone for Baanx, elevating its total funding to over $30 million.
The London-based firm, renowned for managing the Ledger card product, has recently solidified a three-year partnership with Mastercard targeting the U.K. and European markets. This collaboration underscores the growing interest and integration of traditional financial giants like Mastercard and Visa in the realms of cryptocurrency, stablecoins, and the innovative Web3 ecosystem. These sectors are precisely where Baanx excels, offering seamless connectivity and innovative solutions.
“Over the past 12 months, we have been building out a series of non-custodial, on-chain products, creating a whole new type of crypto payment,” stated Simon Jones, Chief Commercial Officer at Baanx, in an interview. He further highlighted the company’s ambition, “Allowing the user full control of their funds whilst enabling real-world spend, we hope to power the next generation of crypto payments.” This vision aligns with the broader objectives of the Tezos Foundation, which aims to foster innovation and adoption within the blockchain and crypto spaces.
The recent influx of funds is earmarked for significant expansion, with Baanx aiming to launch its services in the United States and Latin America later this year. The company’s innovative approach to crypto payments, combined with the strategic support from the Tezos Foundation, positions Baanx to make substantial inroads in these new markets. Additionally, with a user base already exceeding 150,000, Baanx is set to redefine the landscape of crypto payments.
The partnership with Ledger, a leading crypto hardware wallet manufacturer, also underscores the synergy between Baanx’s payment solutions and secure storage options for cryptocurrency users. This collaboration not only enhances the utility of the Ledger card but also broadens the accessibility and appeal of cryptocurrency payments to a wider audience.
As Baanx embarks on this next phase of growth, its alignment with the Tezos Foundation’s ethos of decentralization and innovation is evident. This strategic funding round not only reinforces Baanx’s position in the crypto payments sector but also highlights the growing convergence between traditional financial services and the burgeoning world of cryptocurrency and blockchain technology.
Baanx, a pioneering cryptocurrency payments company endorsed by the U.K.’s Financial Conduct Authority (FCA), has secured a significant financial boost with a $20 million Series A funding round. This strategic investment was led by notable entities including Ledger, the Tezos Foundation, Chiron, and the British Business Bank. The move marks a significant milestone for Baanx, elevating its total funding to over $30 million.
The fast growing fintech Baanx, has announced the launch of Cryptolife, a game-changing digital app built to integrate with the Tezos blockchain for new and existing Tezos token holders.
Introducing “Cryptolife”— a game-changing digital app built to integrate with the Tezos blockchain for new and existing Tezos token holders.
The app will offer a mobile-first, digital asset-friendly platform for users to manage their digital assets and access new services right from their fingertips.
Not Financial Advice: No content on this website constitutes investment, financial, legal, or tax advice. Users should not construe any such information as a recommendation to buy, sell, or hold any investment or security or to pursue any particular investment strategy.
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The Tezos Foundation and Magic, the Wallet-as-a-Service provider, have announced a groundbreaking collaboration aimed at revolutionizing the accessibility and usability of Web3 technologies. This strategic partnership will utilize the pioneering decentralized Tezos blockchain and marks a significant milestone in the journey towards a more inclusive and user-friendly decentralized web experience.
The Tezos Foundation recently announced a notable addition to its Foundation Council, welcoming former French Minister Fleur Pellerin to its ranks. Pellerin, a prominent figure known for her extensive experience in government and the tech venture capital industry, has held several senior governmental roles, including Minister for Culture and Communication. Since 2016, she has led Korelya Capital, a venture capital fund investing in late-stage web3 infrastructure technology companies, such as Ledger, Bitfury, and Ramp.
In a significant stride toward enhancing the Tezos ecosystem, the Tezos Foundation has extended its support to Blockscout, a reputable open-source block explorer. This backing aims to fortify Etherlink, a prominent EVM-compatible Layer-2 blockchain built on Tezos, by providing a dedicated mainnet and testnet block explorer. Concurrently, RedStone Oracles has integrated into the Etherlink ecosystem, heralding a new era of DeFi expansion.
