Crypto Deal Flow: July 21
Today, 1 direct investment in a cryptocurrency project + 1 news from the fintech giant, which, among other things, works with blockchain technology.
- Valr | 100x Ventures, 4Di_Capital, Bittrex and Michael Jordaan| $3.4m | series A round
Valr, an African-focused cryptocurrency exchange, raised $ 3.4 million from 100x Ventures (the investment structure of BitMex), 4Di Capital, Bittrex and private investor Michael Jordaan. The first two funds are new investors, and the last two have extended their shares from the seed round. The exchange was founded in 2018 and now has over 40,000 clients. Earlier, the exchange has already raised funds for a seed round — $ 1.21 million.
2. Ant Group | IPO
Ant Group, one of the leading FinTech entities in China, is launching a dual Initial Public Offering (IPO) in both the Hong Kong and Shanghai stock exchanges. The firm, which is also an Alibaba affiliate, enjoys significant market dominance in the Chinese payments sector, being the parent company of Alipay. According to the latest valuation by Bank of America and JP Morgan analysts, Ant Group’s value stands at $200 billion. Some of the blockchain projects in which Ant Group is involved include a tracking platform developed to facilitate cross-border payments, monitor supply chains, and keep tabs on charity donations. In addition to this, the firm is believed to be actively contributing to the preparation of China’s digital yuan public rollout. As of press date, Alipay has acquired at least five patents based on the digital yuan, also dubbed ‘DC/EP’. IPO can have long term. IPO will have positive long-term implications for the blockchain industry in China and the entire Asian region
Ant Group: https://www.antfin.com/