Blockchain startups see massive funding

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Zip Co Ltd, Australian company Buy Now, Pay Later (BNPL), wants to give users the ability to trade cryptocurrencies, a Reuters report said.

Zip said it plans to offer the service next year in the United States – due to the significant market growth for the company in the fourth quarter – as well as in Australia.

Co-founder Peter Gray said the reason for the new offering was that crypto trading with Zip digital wallets has been one of the new features most requested by users.

“We know our younger generation of customers are looking for additional products and services that are relevant to them,” Gray told Reuters.

Meanwhile, blockchain startups saw a massive influx of funding in the second quarter, surpassing $ 4 billion, according to CNBC.

Fundraising for companies in this sector increased by more than 50% compared to the previous quarter.

Biggest funding round for a blockchain company came from a $ 440 million investment in a digital currency and payments company Circle, which also recently rolled out its intention to go public via a $ 4.5 billion PSPC merger.

Then there was register, which raised $ 380 million. Ledger specializes in hardware wallets that allow users to store their digital currencies. General Ledger CEO Pascal Gauthier recently said that the major industries are now moving into crypto.

As well, JPMorgan Chase would now let advisers execute crypto trades for more clients, according to a report by Co-telegraph said.

A person familiar with the move said it means clients seeking financial advice will now have the option of investing in crypto.

This includes clients managed by financial advisers, retail investors using the trading application, and clients served by private banking.

The move comes after another report revealing that many JP Morgan clients have come to view cryptocurrency as an asset class. It’s come a long way since CEO Jamie Dimon called crypto a “fraud” in 2017, Cointelegraph reports.

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