Finance giants Visa and PayPal along with other types of investors have gathered a total of $300 million dollar in a private equity fundraising event for a new fund at Blockchain Capital.
Blockchain Capital is a venture capital company in the cryptocurrency industry. Since their creation early last decade, they have built a portfolio of investments including “companies, protocols and crypto assets” across the blockchain ecosystem. Some of these companies include Kraken as well as top DeFi cryptocurrency protocols including AAVE.
Blockchain Capital partners with PayPal, Visa and more
The cofounder of Blockchain Capital said along with the announcement:
“We are incredibly honored to welcome a world class group of investors into Fund V who appreciate the value of a firm dedicated to a single industry.”
Jose Fernandez da Ponte, vice president, general manager for blockchain, crypto and digital currencies at PayPal said in regards to this event:
“PayPal is committed to fostering an ecosystem of companies making digital currencies more accessible, useful and secure. Investing in Blockchain Capital’s new fund allows us to engage with the entrepreneurs driving the future of the decentralized economy and the new wave of financial services.”
As reported on Cointelegraph, Blockchain Capital partnered with Morgan Stanley in Morgan Stanley’s first venture into the crypto/blockchain space. This was a joint fundraising event by the two companies in order to raise funds for Scrutinize, a company that manages digital asset securities.
Also in response to the partnership, Vasant Prabhu said:
“Through our relationship with Blockchain Capital, we are deepening our efforts to shape and support the role that digital currencies play in the future.”
In the midst of what many are calling a bear market, Payal and Visa along with many other financial tycoons are not scaling back on blockchain and crypto. They are scaling in.
If you enjoyed this article you might also be interested in reading Michael Saylor Expands MicroStrategy’s Bitcoin Position Once Again.