🚀 Former CFTC Chair Supports States Including Bitcoin In Balance Sheets
#CFTC #Bitcoin #cryptocurrency #finance #digitalcurrencies #financialstrategies #institutionaladoption #publicfinance #fiscalpolicies #ChrisGiancarlo #BTC
According to Odaily, former Chairman of the U.S. Commodity Futures Trading Commission (CFTC), Chris Giancarlo, has expressed his views on the potential for U.S. states to incorporate Bitcoin into their balance sheets. Giancarlo described this move as highly sensible and visionary, indicating his support for the integration of cryptocurrency into state financial strategies.
Giancarlo's comments come at a time when digital currencies are increasingly being considered by various governmental bodies as part of their financial frameworks. His endorsement highlights the growing acceptance and potential benefits of Bitcoin as a legitimate asset class. The former CFTC chair's perspective aligns with a broader trend of institutional adoption of cryptocurrencies, which has been gaining momentum over recent years.
The idea of states holding Bitcoin could pave the way for more widespread acceptance and utilization of digital currencies in public finance. Giancarlo's remarks suggest that such a strategy could offer states a forward-thinking approach to managing their financial portfolios, potentially leading to innovative fiscal policies that embrace the evolving digital economy.#CFTC #Bitcoin #cryptocurrency #finance #digitalcurrencies #financialstrategies #institutionaladoption #publicfinance #fiscalpolicies #ChrisGiancarlo #BTC
🚀 OpenAI Secures $1.5 Billion Investment From SoftBank
#OpenAI #SoftBank #Investment #ArtificialIntelligence #AIResearch #Funding #EmployeeShares #TechInnovation #AIDevelopment #TechIndustry
According to Odaily, OpenAI has successfully secured a significant investment of $1.5 billion from SoftBank. This new funding round marks a substantial financial boost for the artificial intelligence research organization, which has been at the forefront of AI development and innovation.
The investment from SoftBank is expected to provide OpenAI with the necessary resources to further its research and development efforts. This funding will also enable the company to expand its capabilities and explore new opportunities in the rapidly evolving field of artificial intelligence. Additionally, the investment underscores SoftBank's confidence in OpenAI's potential to drive advancements in AI technology.
In a related development, OpenAI has announced that it will allow its employees to sell their shares through a tender offer. This move provides an opportunity for employees to realize the value of their equity in the company, reflecting OpenAI's commitment to rewarding its team for their contributions to its success. The tender offer is expected to enhance employee satisfaction and retention, further strengthening OpenAI's position as a leader in the AI industry.#OpenAI #SoftBank #Investment #ArtificialIntelligence #AIResearch #Funding #EmployeeShares #TechInnovation #AIDevelopment #TechIndustry
🚀 Inflation Trends Show Slow Improvement As PCE Index Rises
#Inflation #PCEIndex #Economics #FederalReserve #CorePCE #PricePressures #EconomicTrends
According to BlockBeats, inflation pressures have significantly decreased since peaking two years ago, although the pace of improvement has slowed in recent months. The Personal Consumption Expenditures (PCE) index, the Federal Reserve's preferred measure for assessing price pressures, is central to this analysis. The Federal Reserve aims to maintain the PCE inflation rate at approximately 2% over the long term to ensure a healthy economic state.
Economists predict that the PCE price index for October will increase by 0.20% month-over-month and 2.30% year-over-year. When excluding the more volatile food and energy prices, the core PCE inflation rate is expected to rise by 0.30% month-over-month and 2.80% year-over-year.
Despite expectations of an increase in both indicators compared to September, analysts believe that price pressures continue to improve. Russell Price, the Chief Economist at Ameriprise Financial, noted that the higher readings in October "do not disrupt the long-term trend."
It is important to note that due to the impact of daylight saving time and the Thanksgiving holiday, the PCE data will be released at 21:30 UTC+8 on Wednesday, rather than the usual 20:00 on Thursday.#Inflation #PCEIndex #Economics #FederalReserve #CorePCE #PricePressures #EconomicTrends
🚀 Utah Judge Denies Appeal In SEC Lawsuit Against Crypto Mining Promoter
#Utah #SEC #CryptoMining #Fraud #Lawsuit #GreenUnited #InvestmentContracts #HoweyTest #JudgeAllen #Bitcoin #CryptoNews
According to Cointelegraph, a federal judge in Utah has rejected an appeal to dismiss a lawsuit filed by the Securities and Exchange Commission (SEC) against a promoter involved in an alleged fraudulent crypto mining operation. The scheme reportedly amassed $18 million through deceptive practices. On November 26, Judge Ann Marie McIff Allen denied Kristoffer Krohn’s appeal against her earlier decision from September 23, which allowed the SEC's lawsuit against Green United LLC to proceed. Judge Allen stated that Krohn did not present sufficient grounds for an appeal, emphasizing that there was no substantial disagreement on the legal principles involved in her previous ruling.
Krohn had argued for the dismissal of the lawsuit, claiming that the SEC failed to prove that the "Green Boxes" offered by Green United were investment contracts, as alleged in the regulator's complaint. He further contended that the SEC had misapplied elements of the Howey test, which is used to determine what constitutes a security. However, Judge Allen refuted Krohn's arguments, stating that he selectively used terms from different definitions without providing any legal precedent to support his interpretation. The judge maintained that Krohn's arguments lacked legal foundation and did not warrant an interlocutory appeal.
The SEC's lawsuit, filed in 2023, accuses Green United executives of orchestrating a fraudulent crypto mining scheme. The operation allegedly collected $18 million from investors between April 2018 and December 2022 by selling investments in "Green Boxes" and "Green nodes," which the SEC claims were purported to mine Bitcoin. In addition to Krohn, Green United founder Wright Thurston has also sought to have the lawsuit dismissed, though the outcome of his request remains pending.#Utah #SEC #CryptoMining #Fraud #Lawsuit #GreenUnited #InvestmentContracts #HoweyTest #JudgeAllen #Bitcoin #CryptoNews
🚀 Security Alert Issued for OceansGallerie on SUI Network
#SecurityAlert #OceansGallerie #SUI #Blockchain #DecentralizedPlatforms #RugPull #UserCaution #DigitalAssets #FinancialLoss #RiskManagement
According to BlockBeats, on November 27, SlowMist issued a security alert regarding the AI-driven social aggregation platform, OceansGallerie, operating on the SUI network. The platform is currently considered to be at high risk, with suspicions of a potential rug pull. Users are advised to exercise increased caution when interacting with the platform.
The alert highlights concerns over the security and reliability of OceansGallerie, urging users to remain vigilant and take necessary precautions to protect their assets. The warning comes amid growing scrutiny of decentralized platforms and the risks associated with them, particularly in the rapidly evolving landscape of blockchain technology.
As the situation develops, users are encouraged to stay informed and monitor updates from reliable sources. The potential for financial loss underscores the importance of due diligence and awareness in navigating the complexities of the digital asset space. This alert serves as a reminder of the inherent risks present in emerging technologies and the need for proactive measures to safeguard investments.#SecurityAlert #OceansGallerie #SUI #Blockchain #DecentralizedPlatforms #RugPull #UserCaution #DigitalAssets #FinancialLoss #RiskManagement
🚀 Hyperliquid Addresses Sybil Activity in Decentralized Derivatives Platform
#Hyperliquid #SybilActivity #DecentralizedDerivatives #Crypto #Blockchain #Fairness #Integrity #UserParticipation #Exploitation #PointsSystem
According to Foresight News, decentralized derivatives trading platform Hyperliquid has identified over 27,000 addresses operated by approximately 100 individuals attempting to gain disproportionate points through large-scale and systematic activities. In response to this behavior, Hyperliquid has implemented measures to adjust the points for these addresses, multiplying them by either 2% or 20%, depending on the extent of the Sybil activity. Affected addresses will be marked with 'Sybil Activity Detected' on the points page.
Hyperliquid has allocated 8 million points for activities in May and 8.4 million points for activities in October and early November, bringing the total points to 57.9 million. This move is part of Hyperliquid's efforts to maintain fairness and integrity within its platform by addressing and mitigating manipulative behaviors that could undermine the system's balance. The platform's actions highlight the ongoing challenges faced by decentralized systems in ensuring equitable participation and preventing exploitation by a small number of users.#Hyperliquid #SybilActivity #DecentralizedDerivatives #Crypto #Blockchain #Fairness #Integrity #UserParticipation #Exploitation #PointsSystem
🚀 Suspicious Activity Detected in OCEANS/SUI Pool
#SuspiciousActivity #OCEANS #SUI #LiquidityRemoval #PeckShield #DecentralizedFinance #CryptoCommunity #SecurityMeasures #Investigation #CryptocurrencyValuation
According to Odaily, PeckShield has detected suspicious activity reported by the community involving the removal of liquidity from the OCEANS/SUI pool. The address 0x4a7a was primarily responsible for removing approximately 116.9 million OCEANS tokens, which were then exchanged for 34,000 SUI tokens, valued at around $115,000.
This incident has raised concerns within the community, prompting further investigation into the motives and implications of such a significant liquidity shift. The removal of such a large amount of OCEANS tokens could potentially impact the pool's stability and the value of the involved cryptocurrencies. Community members and stakeholders are advised to stay informed and exercise caution as more details emerge about this activity.
The monitoring and reporting of such activities are crucial in maintaining the integrity and security of decentralized finance platforms. As the situation develops, it is essential for users to remain vigilant and for platforms to enhance their security measures to prevent similar occurrences in the future.#SuspiciousActivity #OCEANS #SUI #LiquidityRemoval #PeckShield #DecentralizedFinance #CryptoCommunity #SecurityMeasures #Investigation #CryptocurrencyValuation
🚀 Banzai International Allocates Funds For Bitcoin Investment
#BanzaiInternational #Bitcoin #Investment #Cryptocurrency #FinancialDiversification #EconomicUncertainties #MarketingTechnology
According to Odaily, Banzai International, Inc., a publicly traded company on NASDAQ under the ticker BNZI, has announced a strategic decision by its board of directors to invest in Bitcoin. The company plans to allocate up to 10% of its financial accounts for purchasing and holding Bitcoin. This move is aimed at diversifying its financial assets and hedging against inflation.
Banzai International is recognized for providing essential marketing and sales solutions as a marketing technology company. The decision to invest in Bitcoin reflects a growing trend among corporations seeking to leverage cryptocurrency as a means of financial diversification and protection against economic uncertainties. By allocating a portion of its funds to Bitcoin, Banzai aims to enhance its financial strategy and adapt to the evolving economic landscape.#BanzaiInternational #Bitcoin #Investment #Cryptocurrency #FinancialDiversification #EconomicUncertainties #MarketingTechnology
🚀 Cantor Fitzgerald Highlights Inflation Risks, Suggests Gold And Bitcoin As Hedges
#CantorFitzgerald #InflationRisks #Gold #Bitcoin #InvestmentHedges #StockMarket #CoreInflation #ETFs #FinancialStrategies #BTC
According to Odaily, Cantor Fitzgerald's bi-weekly macro report released on Tuesday highlights ongoing challenges posed by inflation, emphasizing significant upward risks. The report advises investors to consider gold and Bitcoin as potential hedges against inflation. Despite the Federal Reserve initiating a rate-cutting cycle in September, core inflation has remained above 2% for four consecutive years, indicating substantial inflationary pressures.
Cantor Fitzgerald predicts a rise in the stock market by the end of the year; however, it expresses a less optimistic outlook for the medium term, suggesting that stocks might not be a favorable investment choice. The financial institution reiterates concerns about inflationary risks, noting that even with core inflation consistently above 2%, the threat remains significant. In response to this challenge, Cantor Fitzgerald recommends proactive measures for investors, identifying gold and Bitcoin as effective tools to combat inflation. The report explicitly states, "Our view is to purchase Bitcoin and gold to address the inflation theme."
To assist investors with similar strategies, the report lists several exchange-traded funds (ETFs) related to gold and Bitcoin for further monitoring. The Bitcoin ETFs mentioned include iShares Bitcoin Trust (IBIT.US), ARK 21Shares Bitcoin ETF (ARKB.US), Grayscale Bitcoin Trust (GBTC.US), CoinShares Valkyrie Bitcoin Fund (BRRR.US), Invesco Galaxy Bitcoin ETF (BTCO.US), VanEck Bitcoin Trust (HODL.US), WisdomTree Bitcoin Fund (BTCW.US), Fidelity Wise Origin Bitcoin Trust (FBTC.US), Bitwise Bitcoin ETP Trust (BITB.US), and Franklin Bitcoin ETF (EZBC.US).#CantorFitzgerald #InflationRisks #Gold #Bitcoin #InvestmentHedges #StockMarket #CoreInflation #ETFs #FinancialStrategies #BTC
🚀 🔥 Binance Announces Thena (THE) Integration Across Multiple Services 🔥
#Binance #Thena #THE #Crypto #Trading #Investing #Earn #MarginTrading #Futures #AutoInvest #BuyCrypto #ZeroFees #PerpetualContracts #Leverage #FundingRate #MultiAssetsMode
Binance has announced the addition of Thena (THE) to its platform, integrating the asset across Binance Earn, "Buy Crypto," Binance Convert, Margin, Auto-Invest, and Futures. Users can now leverage THE across multiple Binance services, enabling flexible trading, investing, and earning opportunities.Here’s a breakdown of Thena’s availability across Binance services:Key Launch Dates for Thena (THE) (H2)Earn ProductsFlexible Products Listing: Available for subscription on Binance Simple Earn starting 2024-11-27 at 10:00 UTC.Auto-Invest: From 2024-11-28 at 10:00 UTC, users can purchase THE through Binance Auto-Invest.Buy CryptoUsers can buy THE using VISA, MasterCard, Google Pay, Apple Pay, or wallet balances within an hour of THE’s listing on Binance Spot.ConvertTrade THE against BTC, USDT, and other tokens at zero fees via Binance Convert within one hour of THE’s Spot listing.Margin TradingStarting 2024-11-27 at 12:00 UTC, THE will be added as a borrowable asset on Cross and Isolated Margin, including the THE/USDT pair.Important: Check the latest Margin Data for limits, collateral ratios, and rates.Futures Launch: THEUSDT Perpetual Contracts (H2)Binance Futures will debut the USDⓈ-M THE Perpetual Contract on 2024-11-27 at 12:15 UTC, featuring:Leverage: Up to 75x.Settlement Asset: USDT.Funding Rate Cap: ±2.00%, settled every 4 hours.Key Contract Details (H3)ContractTHEUSDT PerpetualLaunch Time2024-11-27 at 12:15 UTCLeverageUp to 75xTick SizeTo be confirmedTrading Hours24/7Funding Rate±2.00% (Initial cap)Multi-Assets ModeUsers can trade THEUSDT Perpetual Contracts across multiple margin assets using Binance's Multi-Assets Mode. For example, BTC can be used as margin when trading these contracts.What to Know About THEUSDT Perpetual Contracts (H2)Funding Fee Settlement Frequency: Every four hours.Dynamic Adjustments: Binance may modify contract specifications, including funding fees, leverage, and margin requirements based on market conditions.Compliance: THEUSDT contracts are subject to Binance’s Terms of Use and Futures Service Agreement.#Binance #Thena #THE #Crypto #Trading #Investing #Earn #MarginTrading #Futures #AutoInvest #BuyCrypto #ZeroFees #PerpetualContracts #Leverage #FundingRate #MultiAssetsMode
🚀 🔥 Core PCE Price Index Release: Markets Anticipate Inflation Rebound to 2.80% 🔥
#CorePCE #inflation #FederalReserve #monetarypolicy #priceindex #economicforecast
The Federal Reserve’s preferred inflation gauge, the Core Personal Consumption Expenditures (PCE) price index, is set to release tonight at 23:00 Eastern Time. Analysts forecast the annual rate to climb to 2.80%, signaling a potential rebound in inflationary pressures.The Core PCE price index, often dubbed the Federal Reserve’s "most favored" inflation indicator, excludes volatile food and energy prices, offering a clearer picture of underlying inflation trends. This metric plays a pivotal role in shaping the Federal Reserve's monetary policy decisions.#CorePCE #inflation #FederalReserve #monetarypolicy #priceindex #economicforecast
🚀 🔥 Bitcoin's Path to $100,000: Insights from 21Shares' Matt Mena 🔥
#Bitcoin #BTC #100000 #cryptocurrency #investing #marketvolatility #optionstrading #holidayseason #Mena #21Shares
Bitcoin (BTC) is approaching the significant $100,000 milestone, a level that holds considerable psychological importance for investors. Matt Mena, a crypto research strategist at 21Shares, notes that this price point may prompt long-term holders to consider selling, potentially leading to increased market volatility.Mena observes that options traders are preparing for potential price fluctuations, with a notable number of contracts set to expire in December targeting a decline to $80,000. This indicates a cautious sentiment among some market participants regarding Bitcoin's short-term trajectory.Despite these concerns, Mena remains optimistic about Bitcoin's performance in the coming months. He anticipates that the holiday season could act as a catalyst, propelling Bitcoin's price into the $110,000 to $120,000 range before the year's end.#Bitcoin #BTC #100000 #cryptocurrency #investing #marketvolatility #optionstrading #holidayseason #Mena #21Shares
🚀 Stablecoin Net Outflows Reach Highest Level Since April Amid Strong Crypto Market Performance
#Stablecoin #CryptoMarket #NetOutflows #Altcoins #ProfitTaking #MarketSentiment #DiversifyingPortfolios #MarketVolatility #StrategicPositioning #Investors
According to Odaily, data from IntoTheBlock reveals that the net outflow of stablecoins from exchanges in November has reached its highest level since April. This trend, coupled with the recent robust performance of the cryptocurrency market, suggests that traders are securing profits. The funds being withdrawn are anticipated to be redeployed into the altcoin market or held as reserve capital, poised for reinvestment during future market corrections.
The significant outflow of stablecoins indicates a strategic shift among traders who are capitalizing on the current market conditions. As the cryptocurrency market experiences a surge in prices, investors are opting to lock in their gains, reflecting a cautious yet opportunistic approach. This behavior underscores a broader market sentiment where traders are preparing for potential fluctuations by reallocating their assets.
The movement of funds from stablecoins to altcoins highlights a growing interest in diversifying portfolios and exploring opportunities beyond mainstream cryptocurrencies. This trend may lead to increased volatility in the altcoin market as more capital flows into these digital assets. Additionally, the decision to hold funds as reserves suggests a strategic wait-and-see approach, with traders ready to re-enter the market when conditions are favorable.
Overall, the current dynamics in the cryptocurrency market demonstrate a blend of profit-taking and strategic positioning, as traders navigate the evolving landscape. The high net outflow of stablecoins serves as a barometer of market sentiment, reflecting both confidence in the market's potential and caution in the face of possible corrections.#Stablecoin #CryptoMarket #NetOutflows #Altcoins #ProfitTaking #MarketSentiment #DiversifyingPortfolios #MarketVolatility #StrategicPositioning #Investors
🚀 🔥 Bitcoin's Correction: 10x Research Identifies Key Support Levels at $89,000 and $75,000 🔥
#Bitcoin #BTC #MarketAnalysis #SupportLevels #PriceCorrection #CryptoMarket #Investing #Consolidation
In a recent market analysis, 10x Research has pinpointed two critical support levels for Bitcoin (BTC) amid its current correction: $89,000 and $75,000. These levels are anticipated to serve as strong foundations, potentially halting further declines and providing a base for future upward movements.The analysis suggests that the market may require several days or even weeks to regain sufficient momentum to drive prices higher. This indicates a likely period of consolidation, during which Bitcoin's price may stabilize before any significant uptrend resumes.#Bitcoin #BTC #MarketAnalysis #SupportLevels #PriceCorrection #CryptoMarket #Investing #Consolidation
🚀 Institutional Interest in Bitcoin Grows as Companies Invest
#InstitutionalInvestment #Bitcoin #PubliclyTradedCompanies #MicroStrategy #Cryptocurrency #StrategicAsset #Inflation #Liquidity #BitcoinMarket #MainstreamAsset #BTC
According to PANews, recent data from OKG Research indicates that only 0.01% of publicly traded companies worldwide currently hold Bitcoin, suggesting that institutional investment in the cryptocurrency is still in its early stages. Since November 6, 17 publicly listed companies in the United States and Japan have announced their holdings or approved Bitcoin as a strategic asset. Notably, MicroStrategy made a significant purchase last week, acquiring 55,500 Bitcoins for $5.4 billion. Despite recent fluctuations in Bitcoin's price due to macroeconomic events, its role as an asset sensitive to inflation and liquidity is drawing increasing institutional interest.
OKG Research forecasts that approximately $2.28 trillion could flow into the Bitcoin market over the next year, potentially driving its price up to $200,000. This trend underscores Bitcoin's transition from an "elite experiment" to a mainstream asset allocation. The growing institutional interest highlights the evolving perception of Bitcoin as a viable investment option, reflecting its potential to become a significant component of global financial portfolios.#InstitutionalInvestment #Bitcoin #PubliclyTradedCompanies #MicroStrategy #Cryptocurrency #StrategicAsset #Inflation #Liquidity #BitcoinMarket #MainstreamAsset #BTC
🚀 Crypto Market Anticipates Surge Ahead Of Trump's Inauguration
#CryptoMarket #TrumpInauguration #Cryptocurrency #Bitcoin #InvestorAnticipation #CryptoPrices #NationalBitcoinReserve #PolicyDevelopments
According to Odaily, Matt Mena, a crypto research strategist at 21Shares, predicts that crypto investors may engage in preemptive actions ahead of Donald Trump's inauguration in January next year. This behavior mirrors the activity observed before the U.S. presidential election in November, where investor excitement over Trump's potential victory led to a rise in crypto prices. Such early movements could generate the momentum needed to surpass the $100,000 mark.
Analysts suggest that there is significant anticipation among investors regarding Trump's second term. The president-elect has previously expressed support for cryptocurrencies and hinted at the possibility of establishing a national Bitcoin reserve. Additionally, reports indicate that he is considering candidates for White House positions related to cryptocurrency. This growing interest and potential policy developments under Trump's leadership are contributing to the optimistic outlook within the crypto market.#CryptoMarket #TrumpInauguration #Cryptocurrency #Bitcoin #InvestorAnticipation #CryptoPrices #NationalBitcoinReserve #PolicyDevelopments
🚀 U.S. Markets Adjust Trading Hours for Thanksgiving Holiday
#USMarkets #ThanksgivingHoliday #TradingHours #StockMarket #BondMarket #CME #ICE #TradingSchedule #PreciousMetals #CrudeOil #ForeignExchange #StockIndexFutures #BrentCrude #MarketAdjustments
According to BlockBeats, the trading schedule in the United States will be adjusted this week due to the Thanksgiving holiday. On November 28, both the U.S. stock and bond markets will be closed for the entire day. This closure is in observance of the Thanksgiving holiday, which traditionally results in a shortened trading week.
Furthermore, on November 29, the markets will close earlier than usual. This early closure affects various trading platforms and contracts, including those under the Chicago Mercantile Exchange (CME) and the Intercontinental Exchange (ICE). Specifically, trading for precious metals, crude oil, foreign exchange, and stock index futures on the CME, as well as Brent crude futures on the ICE, will conclude earlier on both November 28 and November 29.
These adjustments are typical during major U.S. holidays, reflecting a decrease in trading activity as market participants take time off. The changes are designed to accommodate the holiday schedule while ensuring that trading operations continue smoothly in the days surrounding the holiday.#USMarkets #ThanksgivingHoliday #TradingHours #StockMarket #BondMarket #CME #ICE #TradingSchedule #PreciousMetals #CrudeOil #ForeignExchange #StockIndexFutures #BrentCrude #MarketAdjustments
🚀 BNB Drops Below 620 USDT with a 0.08% Decrease in 24 Hours
#BNB #Crypto #Binance #MarketData #USDT #PriceDrop
On Nov 27, 2024, 12:25 PM(UTC). According to Binance Market Data, BNB has dropped below 620 USDT and is now trading at 619.869995 USDT, with a narrowed 0.08% decrease in 24 hours.#BNB #Crypto #Binance #MarketData #USDT #PriceDrop
🚀 Bitcoin(BTC) Drops Below 93,000 USDT with a Narrowed 0.87% Increase in 24 Hours
#Bitcoin #BTC #USDT #cryptocurrency #Binance #marketdata #trading #pricechange
On Nov 27, 2024, 12:29 PM(UTC). According to Binance Market Data, Bitcoin has dropped below 93,000 USDT and is now trading at 92,976.851563 USDT, with a narrowed narrowed 0.87% increase in 24 hours.#Bitcoin #BTC #USDT #cryptocurrency #Binance #marketdata #trading #pricechange
🚀 Deutsche Bank Joins Blockchain Payment Network Partior As Investor
#DeutscheBank #Partior #Blockchain #Payments #Finance #Investment #JPMorgan #CrossBorderPayments #FinancialInclusion #Transparency #DigitalCurrency #SettlementBank
According to CoinDesk, Deutsche Bank has joined the blockchain payment network Partior as a strategic investor, participating in the company's Series B funding round. This addition brings the total raised by Partior to $80 million. Partior, a Singapore-based firm, is supported by major financial institutions including JPMorgan, DBS, and Standard Chartered.
The involvement of Deutsche Bank highlights the increasing adoption of blockchain technology by traditional finance firms. Recently, Mastercard announced a collaboration with JPMorgan to facilitate cross-border payments using blockchain technology. Deutsche Bank will also serve as a settlement bank for both euro and U.S. dollar transactions on Partior's platform.
Patricia Sullivan, Deutsche Bank's global head of institutional cash management, noted the significant disruption in the payments industry driven by technological advancements and the push for greater financial inclusion and transparency. Partior, established in 2021, is backed by notable investors such as DBS Bank, JPMorgan, Standard Chartered, Temasek, and Peak XV, along with Jump Trading and Valor Capital Group. The platform currently supports payments in U.S. dollars, euros, and Singapore dollars, with plans to expand its currency offerings as its global network grows.#DeutscheBank #Partior #Blockchain #Payments #Finance #Investment #JPMorgan #CrossBorderPayments #FinancialInclusion #Transparency #DigitalCurrency #SettlementBank