Blockchain.com, a leading cryptocurrency services provider, announced that the company has acquired assets of AiX, a technology firm that has built the AI-powered negotiation and matching engine for institutional OTC traders.
According to the official announcement, Blockchain.com is planning to expand its institutional offering through the latest acquisition. Additionally, the cryptocurrency platform welcomed the team of AiX that includes some of the leading industry experts.
Blockchain.com has seen significant growth in the last few months amid a jump in cryptocurrency trading. Emerging traders and institutional investors are driving the demand for crypto-wallets. Blockchain.com recently raised $300 million in a Series C funding round led by DST Global, Lightspeed Venture Partners and VY Capital. In addition, the company received a valuation of $5.2 billion.
Commenting on the latest announcement, Peter Smith, CEO of Blockchain.com, said: “The AiX team brings deep engineering, trading and operational expertise from some of the world’s most respected financial institutions, including JP Morgan and Goldman Sachs. AiX CEO, Jos Evans spent 15 years trading and broking in derivatives markets. In fact, he previously launched and sold a brokerage, which was a pioneer in creating new commodity derivatives. AiX COO, Taylor Cable held a number of roles, including Senior Trader, Project Manager and Portfolio Manager at Louis Bacon’s Moore Capital Management for over 15 years.”
The latest acquisition of the assets of AiX is a part of the company’s large-scale M&A activities. In November 2018, Blockchain.com acquired London-based firm Stratagem to accelerate the company’s growth. During the latest announcement, Smith mentioned that Blockchain.com is ready to welcome new products and ideas into the company.
“When we raised our Series C last month, I shared our vision to aggressively expand our products, grow our customer base, and pursue M&A opportunities that bring new products and ideas into the company. Given that our Institutional Markets businesses are rapidly growing, it’s fitting that AiX join us to accelerate the development of products and solutions for Institutions,” he added.
The overall market cap of cryptocurrencies gained nearly $1.5 trillion in 2021. According to an estimate, there are more than 100 million cryptocurrency users around the world.
Luno Hits 9M Customers Mark
One of the leading global cryptocurrency exchange companies, Luno celebrates hitting 9 million customer mark in over 40 countries.
Luno is a digital currency exchange facility that offers an exchange platform for customers to buy, sell and store digital currencies as well as pay for products and services using a cryptocurrency wallet.
The cryptocurrency exchange platform, Luno, saw remarkable growth with the addition of one million customers in less than five months.
Africa is one of Luno’s strongest markets with over 45 percent of the one million new customers added since June are based in Africa.
Marius Reitz, GM for Africa at Luno commented: “The average value of first deposits made by our million new customers is around USD32. Most new customers (83%) bought Bitcoin, while 27% bought Ethereum and 23% bought Ripple. Of the new customers, 35% are aged between 18 and 24, and gender splits align with trends in financial services – almost three quarters (65%) are male.”
Luno was founded in 2013 by Marcus Swanepoel, an ex-investment banker, and Timothy Stranex a software engineer who had previously worked with Google.
“As we hit the 9 million customer mark, it is a fitting symbol that Luno’s logo now adorns an iconic building in Cape Town’s unofficial financial district on the foreshore. Staff numbers have swelled to over 600 across the UK, South Africa, Malaysia, Indonesia, Nigeria, Australia and Singapore, and we are actively hiring over 60 specialists,” says Reitz.
Reitz affirmed that it took Luno five years to build a base for its first one million customers in 2017. “Luno’s growth has accelerated significantly since then. In the last year alone, we have added over 3.6 million new customers,” he says.
Luno was acquired last year by US-based DCG, the world’s largest blockchain investor and is targeting a billion customers by 2030.
Today’s Cryptocurrency Investors are Tomorrow’s Masters of the Metaverse
Cryptocurrency investors of today are likely to be the “masters of the metaverse”, which has the potential to change how we live, interact and do business, predicts the CEO of one of the world’s largest independent financial advisory, asset management and fintech organisations.
The prediction from Nigel Green, the CEO and founder of deVere Group, comes as Facebook announces plans to hire 10,000 people in the European Union to develop a so-called metaverse.
“The metaverse has the potential to help unlock access to new creative, social and economic opportunities,” the tech giant said in its blog.
The term ‘metaverse’ gives a virtual parallel to physical reality where a community of people can interact in the form of avatars. It refers to the merging of physical, augmented, and virtual reality in a shared online environment.
Mr Green says: “Facebook’s announcement once again underscores that the metaverse is not being seen by those-in-the-know as an ‘extension’ of the internet, but as its successor.
“It will become the entrance to almost all digital experiences and an integral part of most physical ones, meaning it will fundamentally change the way we live, interact with each other and do business.
“It will revolutionise economies, it will be the key to the creation of whole new generations of companies, and this is why the big tech firms are jumping in – no one wants to be left behind something so monumental.”
He continues: “The metaverse is being built and run on blockchains and decentralised applications, which is the same cutting-edge technology used by cryptocurrencies like Bitcoin and Ethereum.
“In addition, in the virtual worlds which will reshape how we spend our time and our money, financial transactions will, of course, have to be digital.
“This means that cryptocurrencies are likely to become the sole legal tender accepted in the metaverse.
“All of this is a huge advantage to anyone investing in crypto today. Prices of major cryptocurrencies are likely to soar enormously in the next few years. As such, those buying now will be taking advantage of the lower entry points.
“Their purchasing power within the digital space can be expected to be huge as a result: they will be the ones who are the Masters of the Metaverse.”
Everything is very much still in the early stages, and it might be another decade or so until the potential of the metaverse is fully realised.
But, concludes Nigel Green, there is a “massive advantage” for early adopters of new tech – “just ask Facebook boss Mark Zuckerberg” – as well as those who “invest earlier on in the currencies of the future.”
Bitcoin Near $60,000 Per Coin After Bloomberg Report Favour Bitcoin ETF
Bitcoin, the world’s most capitalised cryptocurrency, rallied near $60,000 per coin after a report by Bloomberg said bitcoin futures exchange-traded fund (ETF) will clear the U.S. Securities and Exchange Commission (SEC) late on Thursday.
Cryptocurrency’s most dominant coin rose to $59,961 per coin before pulling back to $59,258.38 at the time of writing.
The SEC is reviewing around 40 bitcoin ETF filings with multiple decision deadlines on futures-linked products hitting next week. According to Bloomberg, the regulator is expected to approve at least some of them, clearing the way for trading to begin.
The SEC does not need to take any formal action to approve the filings. Under federal law, applications can become effective if the SEC allows a mandated deadline to pass by without requesting changes or directing the aspiring issuer to pull the filing.
Bloomberg named applications by ProShares and Invesco as two proposals that may be allowed to launch under this law next week.
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