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Wednesday, October 27, 2021

PayPal [NASDAQ: PYPL] and Visa Invest in Blockchain Capital

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PayPal Holdings, Inc. [NASDAQ: PYPL] and Visa Inc have invested in Blockchain Capital. Blockchain Capital is a cryptocurrency and blockchain-focused venture capital firm. Blockchain Capital has managed to raise $300 million in financing for its Fund V from investors.

Among various investors, PayPal and Visa have also invested in the Blockchain capital. Furthermore, it has been revealed that since its inception in 2013, Blockchain Capital has so far invested in more than 110 firms. The firms include cryptocurrency exchanges Coinbase Global Inc and Kraken as well as crypto platform Anchorage and non-fungible token (NFT) marketplace OpenSea.

Blockchain Capital participates in both crypto and equity assets. It disclosed that the funds will be focused on blockchain infrastructure and the application of blockchain technology, NFTs, and DeFi. Blockchain Capital stated that some investors in Fund V, including PayPal and Visa, will also be taking part in a strategic collaboration program.

Additionally, Bitcoin and various other cryptocurrencies have experienced a huge decline last month. They experienced a decline by the news of repeated regulatory inspection in China. Moreover, Tesla boss Elon Musk also stop the use of bitcoin for car buying. Bitcoin experienced massive losses to fall below $30,000 on Tuesday for the first time since January.

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