Fintech, Finance, Technology, Banking Highlights – 4 April 2018

Elysium partners Cryptalgo to build cryptocurrency trading platform

Elysium Technology Group (Elysium), the U.S.-based leading innovator in trade processing solutions for Foreign Exchange and Futures, and CRYPTALGO announced a strategic partnership to introduce cryptocurrency trading solutions to financial institutions.

CRYPTALGO is a Swiss-based fintech company specialising in high-end cryptocurrency brokerage services, algo-trading and cryptotrading for financial institutions.

Together, Elysium and CRYPTALGO will deliver a unique and comprehensive cryptotrading solution to Elysium’s clients, who currently trade $500 billion to $1 trillion of FX and futures every month through Elysium’s platform.

Andrew Siciliano, Chairman of Elysium Technology Group commented:

“In FX trading, money-making opportunities come and go very quickly. We believe this will be the same in cryptocurrency trading, and thus our mission is to build cryptocurrency trading functionality into our one-stop-shop platform and to integrate swift and best-execution capabilities. We believe CRYPTALGO has the knowhow, experience, and execution platform complementing the Elysium offering. The partnership is designed to deliver a comprehensive, high-end cryptocurrency trading solution for our clients.”

BitPay closes extended $40 Million Series B Round

BitPay, the largest global blockchain payments provider, today closes its $40 Million extended Series B funding round, which brings its total raised capital to over $70 Million.

New investors in BitPay include Menlo Ventures, Capital Nine, G Squared, Nimble Ventures (an affiliate of Passport Capital) and Delta-v Capital as well as individual investments from Christopher Klauss Family Office, Founder of Internet Security Systems (ISS), and Alvin Liu, Co-founder of Tencent. Aquiline Capital Partners led the initial Series B Round but extended the round due to increased investor demand.

“BitPay had a record 2017 as we processed over $1 Billion in bitcoin payments. We brought on these new investors who can help BitPay scale globally to meet customer demand,” said Stephen Pair, BitPay CEO. “Our goals include key hires in engineering and regulatory licensing, as well as expansion into emerging markets in Asia-one of BitPay’s fastest-growing regions for transactions and wallet adoption.”

Menlo Ventures selected BitPay as its first institutional crypto investment after spending significant time researching the broader crypto and blockchain ecosystem. Menlo is committed to thesis-based investing, and prioritizes companies that are reshaping large and important markets through technology- and process-driven breakthroughs. Poised to profoundly change a rapidly evolving industry, BitPay joins the Menlo portfolio alongside leading companies such as Uber, Betterment, Roku, BlueVine, and Warby Parker.

Sberbank buys majority stake in Dialog

In the framework of building a digital ecosystem, Sberbank has acquired a majority stake in Dialog, the developer of dialog enterprise corporate messenger.

Sberbank’s investment will be targeted at further technological solutions and strengthening user security from cyber threats. The messenger lets companies transfer employee communications onto a contemporary platform with a user-friendly interface.

dialog enterprise has every feature of a modern-day messenger, including voice and video calls, chat bot compatibility, file exchange, meeting set up, as well as audio and video conferencing. The product is designed to fully replace external messengers in corporate communications.

dialog enterprise is compatible with business applications already used by a company’s employees. The messenger is also capable of making and receiving calls through an organization’s existing VoIP infrastructure. The service will also provide for total data confidentiality, as the product can also be installed on-premise, onto the client’s existing IT infrastructure.