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Techub News, according to Cointelegraph, Hong Kong-based stablecoin payment company RedotPay has completed a $47 million strategic funding round at a valuation exceeding $1 billion. This round was led by Coinbase Ventures, with participation from Galaxy Ventures, Vertex Ventures, and others. RedotPay was established in April 2023, offering stablecoin payment cards, multi-currency wallets, and global payment services. To date, the company has over 5 million users, with total payment transaction volume reaching $10 billion. The global payment service launched this June has made progress in less developed regions such as Latin America, enabling direct transfers of cryptocurrency to local bank accounts or e-wallets. RedotPay is currently headquartered in Hong Kong, with branches in Europe and Argentina, and has obtained licenses in relevant regions. Future plans include further expanding global business channels, deepening cooperation with banks and payment networks, while prioritizing global licensing and compliance efforts.
Techub News, according to Fortune, stablecoin startup Bastion has completed a new round of funding of $14.6 million, led by Coinbase Ventures. Participants included the venture capital arm of Japanese tech giant Sony, the venture capital arm of South Korean mobile phone manufacturer Samsung, a16z, and Hashed. Bastion is a stablecoin issuer that enables companies to more easily launch their own branded stablecoins by hiring Bastion, instead of needing to hire lawyers to obtain regulatory approvals or software developers to write code. Bastion's differentiating advantage lies in its full suite of stablecoin services, which include a cryptocurrency wallet for customers to hold tokens, and channels to convert stablecoins into cash in over 70 countries, including the United States.
Techub News, According to CoinDesk, prediction market startup XO Market has completed a $6 million seed funding round, with participation from 20VC, Picus Capital, Coinbase Ventures, Venture Together, and a group of angel investors including Australian cricket captain Pat Cummins. XO Market co-founder Ali Habbabeh said the company is positioning itself as the "YouTube of prediction markets." XO Market is about to launch XO Vaults, a platform that will allow users to pool funds into various strategies to provide liquidity for prediction markets.
Techub News reports that the crypto-native tipping protocol Noice has disclosed that it raised an undisclosed amount of funding in June this year through a Simple Agreement for Future Equity (SAFE) and token purchase warrants from the Base ecosystem fund Coinbase Ventures and Network School (Balajis). Noice is a crypto-native tipping protocol that enables seamless microtransactions through social interactions on Farcaster, integrating Web3 incentives with content creation.
Techub News, according to Fortune, encryption compliance startup CipherOwl has completed a $15 million seed funding round. The round was led by General Catalyst and Flourish Ventures, with participation from investors including Coinbase Ventures and Enlight Capital. CipherOwl's two founders, Ming Jiang and Leo Liang, previously worked at Coinbase, where they focused on developing compliance software for the cryptocurrency exchange. Currently, CipherOwl has only eight employees.
Techub News, according to Fortune, stablecoin startup Coinflow has completed a $25 million Series A funding round. Participants included Pantera, Coinbase Ventures, Reciprocal Ventures, and Jump Capital, among others. This round of funding will be used to help merchants achieve more efficient capital flow through stablecoins.
Techub News: According to Blockworks, Genie founder Scott Gray has launched Share, a Web3 social trading application, and secured $5 million in funding. Participants in the funding round include Coinbase Ventures, Collab+Currency, Palm Tree Crypto, among others. Share supports three major public chains: Solana, Base, and Ethereum, displaying users' on-chain trading activities in real-time, allowing them to track wallets, view market trends, and conduct token trades. Each wallet automatically generates a Share profile, and users can link multiple wallets as well as Farcaster accounts.
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