RATE Group | Visa Predictably Backs $40 Million Raise in Cryptocurrency Security System
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Visa Predictably Backs $40 Million Raise in Cryptocurrency Security System

12 Jul Visa Predictably Backs $40 Million Raise in Cryptocurrency Security System

Posted at 07:05h in Cryptocurrency News by

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The longer you’ve been in the blockchain space, the more you’ve likely realized that traditional finance companies will come in and benefit from the technology as well. It started with patents and investments; now the companies inevitably begin to take a more active role.

Then You Win

JPMorgan released its cryptocurrency. Now, much of the traditional business sector is getting on board in some way or another, with Facebook freaking out legislators with its plans to launch Libra.

Visa and the famed VC firm Andreessen Horowitz are backing a company called Anchorage, which is part of the Libra Association. Anchorage takes a different approach to security, requiring multiple employees to sign off on withdrawals.

Some companies like Mastercard initially rebuked the notion of cryptocurrency, but they have since capitulated as well, patenting technologies around the blockchain.

Between Visa, Andreessen Horowitz, and Blockchain Capital, Anchorage raised around $40 million.

Anchorage…

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