21.01.2021

Wallet Seeking New $50M Funding Round

According to Yahoo! Finance citing two anonymous sources on Sept. 4, Blockchain is already negotiating the cash, which it will use to invest in equity and purchase unnamed cryptocurrency tokens.

Cryptocurrency wallet and statistics resource Blockchain (formerly Blockchain.info) is reportedly raising $50 million in a new funding round.

Blockchain eyes fresh expansion

The sources added that Sam Harrison, who joined the company in 2018 to co-found its Blockchain Ventures spin-off, is in charge of proceedings.

Blockchain has yet to confirm the reports, which come on the back of previous round in March this year.

More broadly, Blockchain has sought to diversify its crypto industry presence away from just Bitcoin (BTC), a move which has earned it criticism.

These have included a $125 million giveaway involving altcoin Stellar (XLM) last November, and resisting calls to implement Segregated Witness (SegWit) for Bitcoin users, something which would reduce the cost of sending transactions from its wallet.

Last month, BashCo, the Reddit user in charge of moderating the r/Bitcoin subreddit, publicly criticized Blockchain for failing to offer SegWit.

Since the technology’s activation in Aug. 2017, he argued, consumers had opened 31 million non-compatible wallets with the company.

Blockchain.com to Integrate Polkadot Tokens Into Its Wallet

Luxembourg-based crypto data supplier and crypto wallet Blockchain.com has partnered with blockchain interoperability protocol Polkadot.

Driving decentralization

On Aug. 20, Blockchain.com announced it will integrate its Blockchain Wallet with the Polkadot Network in order to drive the adoption and decentralization of Polkadot tokens (DOTs).

Once the integration is complete, users of Blockchain.com will be able to store, send and receive DOTs, as well as to vote on proposed amendments to the network protocol and council members.

The new partnership aims to promote the idea of decentralization. Peter Smith, co-founder and CEO of Blockchain.com, noted in the announcement that Polkadot is “exactly the type of purpose-driven network” that is supported by the company. He stated that the team behind Polkadot shares Blockchain.com’s vision for more decentralization and increased user control.

Announced in 2017, Polkadot is the first project of the Web3 Foundation. The project is being developed by the founders of Parity Technologies, Polkadot founder and Ethereum co-founder Gavin Wood and Ethereuem’s first security chief Jutta Steiner.

In June 2019, Polkadot announced that it sold 500,000 DOTs at an unspecified price, keeping the firm’s $1.2 billion valuation. Following the distribution of tokens, Polkadot introduced its experimental version of the protocol dubbed Kusama.

Blockchain Wallet Adds Support for Crypto Payments Processor BitPay

Crypto wallet service Blockchain Wallet has integrated cryptocurrency payment processor BitPay.

Payments conducted through Blockchain Wallet

Blockchain announced the news on Aug. 23, stating that it now allows its users to copy or scan invoices, allowing them to make a Bitcoin (BTC) payment entirely through its wallet app.

The new functionality reportedly allows users to purchase products and services available via BitPay’s online network while retaining ownership of their private keys through Blockchain Wallet.

BitPay is one of the largest crypto payments processors and is offered in a multitude of online stores. It has purportedly process nearly $3 billion in payments since 2011.

BitPay Rejects $100K Charitable Donation

As reported by Cointelegraph, BitPay recently denied a $100,000 donation to an Amazon rainforest charity. A donor reportedly tried to donate this amount, in BTC and via BitPay, to Amazon Watch – a charity with the goal of supporting the Amazon rainforest’s ecology and indigenous peoples.

However, the donation purportedly was denied after failing BitPay’s internal checks. BitPay said the charity had set their maximum payment limit under six figures, and that the organization would need to submit new documents in order to change their payment cap.

Cryptocurrency payments startup expands in Venezuela

A cryptocurrency startup by the name of Pundi X recently announced that it was expanding into Venezuela with its crypto payments processor XPOS. Pundi X partnered with the Venezuelan chain store Traki, which agreed to use the payments device in its 49 outlets.

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