Kraken is in talks with firms including Fidelity, Tribe Capital and General Atlantic to raise the funds. However, if demand is as high as some suspect it will be, Kraken’s value could exceed $20 billion. That follows yesterday’s news that its larger competitor, Coinbase, filed a Form S-1 with the U.S. Securities and Exchange Commission, confirming reports that it will go public with a direct stock listing, probably on Nasdaq.
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Figure Technologies is the latest blockchain firm looking for a bank license (Photo: Wikimedia Commons)Another crypto bank? Blockchain lender Figure Technologies applies for a bank charter
The firm believes that a bank charter will allow it to simplify its compliance efforts and help it serve more customers
According to a Nov. 6 announcement, Figure Technologies applied for a national bank charter from the Office of the United States Comptroller of the Currency (OCC). The firm said in its announcement that the national bank charter would allow it to offer the same set of products and services throughout the U.S. Furthermore, its compliance efforts mean it would have to keep the requirements of only one regulator in mind, reducing costs and risks.
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Can blockchain really save you $30 billion on home loans? Well, not just you alone... (Photo: Pixabay)Provenance blockchain completes loan sale in seconds, not weeks
Transaction paves the way for Figure, the firm that owns Provenance, to settle $100 million in real estate transactions for lender Pacific Private Money in the coming year
Figure Technologies founder and CEO Mike Cagney said that its Provenance network was used to execute a bridge loan transaction between lender Pacific Private Money and asset management firm Saluda Grade in seconds, eliminating the need for intermediaries and reducing the cost, time, and friction involved.
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Chain is capturing more blockchain and cryptocurrency investment at the expense of the U.S (Photo: CDC Group).Go East: Crypto funding shifting from US to China, report says
In 2015, just 2% of cryptocurrency and blockchain deals were for Chinese companies. Fast forward four years to 2019, and the figure soared to 22%
In it Blockchain Report 2020, CBInsights said 51% of deals in the industry were for US-based companies four years ago, while only 2% was earmarked for Chinese businesses. According to the latest figures, China’s share of deals is 22% in 2019, while America’s share dwindled to just 31%.