Coinbase

Coinbase Lands $10.5 Million in Strategic Investment from Bank of Tokyo Mitsubishi UFJ

Coinbase Lands $10.5 Million in Strategic Investment from Bank of Tokyo Mitsubishi UFJ
By Julie Muhn (@julieschicktanz) Posted on
Categories: Coinbase, Funding

Screen Shot 2016-07-07 at 11.03.45 AM

Coinbase, a Bitcoin platform for merchant processing and consumer wallets, received backing from Bank of Tokyo Mitsubishi UFJ (BTMU), Mitsubishi UFJ Capital (MUCAP) and Sozo Ventures today.

The three firms have made a strategic investment of $10.5 million in Coinbase, bringing the company’s total funding to just north of $116 million. Previous investors in Coinbase include Draper Fisher Jurvetson, the New York Stock Exchange, BBVA Ventures, and Andreessen Horowitz.

BTMU, the largest bank in Japan, plans to work with the San Francisco-based company to fuel its international expansion. Coinbase does not currently support digital currency-exchange services in Japan, but said in a blog post that it is looking forward to working with BTMU “to support this focus in key markets in Asia and globally.”

Late last month Coinbase announced it now accepts PayPal for selling bitcoin. Coinbase users in the U.S. can now sell bitcoin and have the funds deposited in their PayPal wallet. The company plans to add support for other countries in the future. Coinbase also added support for purchasing bitcoin with credit cards. Both services are still in beta.

At FinovateSpring 2014, Coinbase debuted Instant Exchange, a merchant-payment solution that allows businesses to accept bitcoin without any exchange-rate risk, shielding them from market volatility. Coinbase has 4 million customers across a supported network of 32 countries and has seen $4 billion in bitcoin exchanged over its platform since launching in 2012.

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Finovate Alumni News

By David Penn Posted on
Categories: Buzz Points, Coinbase, defi Solutions, eMoney Advisor, Holvi, iSignthis, Ixaris, Jack Henry, Lending Club, Misys, Ping Identity, ProfitStars, Risk Ident, WattzOn

On Finovate.com

  • Ping Identity Unveils Security, Usability Upgrades to IDaaS Platform.
  • defi SOLUTIONS to Launch Full-Service Analytics and Reporting Platform by Year’s End
  • Coinbase Lands $10.5 Million in Strategic Investment from Bank of Tokyo Mitsubishi UFJ

Around the web

  • Misys honored by Celent Model Bank Awards for its work with Russia’s Alfa-Bank.
  • Holvi launches new debit card, Holvi Business MasterCard.
  • Risk Ident CEO Roberto Valerio writes about fighting account-takeover fraud.
  • Ixaris helps Amadeus build prepaid B2B wallet.
  • WattzOn unveils three new web and mobile tools for monitoring and managing utility bills.
  • The Street: Lending Club ‘Platform Investors’ Are Slowly Returning Despite Recent Hiccups
  • Buzz Points joins Jack Henry’s Symitar Vendor Integration Program.
  • iSignthis integrates with XM.COM to deliver due diligence Digital KYC service.
  • ProfitStars Ranked Among Top-50 Providers in MSPmentor 501 Global Edition.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

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Finovate Alumni News

By David Penn Posted on
Categories: Accusoft, Cloud Lending, Coinbase, Fiserv, iQuantifi, Kapitall, OurCrowd, Prairie Cloudware, Ripple, Socure, Tradeshift, TSYS

On Finovate.com

  • A Score for Socure: The Digital ID Company Lands Funds from Santander.
  • Digital Payments Guardian from Prairie Cloudware Goes Live at Multibillion Dollar Regional Bank.
  • Tradeshift Unveils Go,the First B2B Virtual Assistant for Managing Business Expenses and Travel.
  • With Ripple, Seven Banks Test Out the Blockchain.

Around the web

  • TSYS and Equinox team up to launch semi-integrated EMV payment solution for Value-Added Resellers.
  • Forbes column on “millennial money mistakes” features Kapitall.
  • iQuantifi founder and CEO Tom White writes about goal-based selling for BankDirector.com.
  • Accusoft wins spot in 2016 SD Times 100 for its innovations in software development.
  • Prairie Cloudware’s Digital Payments Guardian mobile wallet goes live with multi-billion dollar regional bank.
  • Fintech profile interviews Cloud Lending CEO Snehal Fulzele.
  • Fiserv launches Notifi to deliver actionable alerts.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

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Finovate Alumni News

By Julie Muhn (@julieschicktanz) Posted on
Categories: Coinbase, Credit Karma, EyeVerify, Global Debt Registry, itBit, Klarna, Markit, PayActiv, Q2, Q2ebanking, Student Loan Genius, Top Image Systems, WallStreetSurvivor, wipro, Xero

On Finovate.com

  • “San Francisco Times Recognizes Credit Karma as Best Fintech Company”

Around the web

  • Markit partners with BitSight Technologies to enhance its Know Your Third Party (KY3P) platform.
  • Coinbase launches Buy widget to create a better Bitcoin buying experience.
  • Wipro open sources its big data solution, Big Data Ready Enterprise (BDRE).
  • itBit publishes its Bitcoin OTC Market Recap for March.
  • American Banker looks at the relationship between EyeVerify and Wells Fargo.
  • Money Q&A reviews Wall Street Survivor.
  • AltFi investigates how the loan-validation expertise of Global Debt Registry might help the P2p lending market.
  • Q2 subscribes to FI Navigator’s cloud-based mobile banking module.
  • Top Image Systems delivers $100,000 eFLOW project to subsidiary of a national postal service group in Asia-Pacific.
  • Barron’s features Student Loan Genius and PayActiv as employee benefits aimed at millennials.
  • Xero featured as one of first New & Notable Apps on Google Apps Marketplace.
  • SF Business Times features CEO Talbott Roche of Blackhawk.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account

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Coinbase to Support Ether; Will Rebrand Exchange Service as GDAX

Coinbase to Support Ether; Will Rebrand Exchange Service as GDAX
By David Penn Posted on
Categories: Coinbase

Coinbase_homepage_May2016

Starting this week, traders will be able to buy and sell the digital currency Ether on bitcoin-exchange Coinbase.

Ether, the digital currency used by the Ethereum platform, has gained traction among financial institutions like Barclays and UBS. Corporations such as IBM have also expressed interest in the technology and how it could enable communications and transactions between connected devices in an internet-of-things world.

According to Adam White, Coinbase VP of business development, bitcoin and ether are not necessarily competitors, meaning the addition of ether could help boost trading volumes for the exchange. Ether is the second most widely traded cryptocurrency behind bitcoin, with $44 million in average daily trading volume compared to bitcoin’s $134 million. And while both digital assets can serve as alternative currencies, ether can also be used to help developers build and run distributed applications and smart contracts on the Ethereum platform. Ethereum is a public decentralized blockchain, co-founded and created by Russian-Canadian programmer Vitalik Buterin.

Coinbase is expected to make an official announcement on Tuesday, March 24.

Coinbase_stage_FS2014b

Pictured (let to right): Business Development Managers Nahid Samsami and Roger Gu demonstrated Coinbase Instant Exchange at FinovateSpring 2014 in San Jose.

The decision to add ether comes as part of a rebranding of Coinbase’s exchange service. The platform will be renamed “GDAX” (Global Digital Asset Exchange). The company will continue to provide basic “dollar for bitcoin/ether” conversions under the Coinbase brand.

Recent headlines for Coinbase include earning a spot on Fast Company’s Most Innovative list back in February. The company was featured in a round up of blockchain-powered digital wallets in April and added stop orders to its exchange platform in March. Coinbase enabled bitcoin purchases by debit card in March, as well,

Founded in 2012 and headquartered in San Francisco, Coinbase demonstrated its Instant Exchange technology at FinovateSpring 2014. The bitcoin wallet and platform has 3.8 million users and has raised more than $106 million from investors including Andreessen Horowitz, BBVA, USAA, and Ribbit Capital.

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Finovate Alumni News

By David Penn Posted on
Categories: ACI Worldwide, Coinbase, Dwolla, Fiserv, Kabbage, Markit, MaxMyInterest, On Deck Capital, Personetics, PlentyFI, Saved Plus, Thomson Reuters, Trulioo, TSYS

On Finovate.com

  • “Trulioo’s GlobalGateway Available in BRIC Countries”
  • “Kabbage Reaches $2 Billion in Loans in 5 Years”
  • “Coinbase to Support Ether; Rebrands Exchange Service as GDAX”
  • “MaxMyInterest Launches Client Invitation Feature”
  • “Finovate Debuts: Personetics Helps Banks Provide Personalized Guidance to Customers”

Around the web

  • OnDeck adds to credit offerings available to Canadian small businesses.
  • Thomson Reuters and Hong Kong Exchange and Clearing Ltd. to create new indices for the Chinese currency, the renminbi.
  • ACI Worldwide earns technical accreditation to provide access to real-time, faster payments in the U.K.
  • Markit unveils compliance solution to help meet new FRTB, market risk capital requirements.
  • Fiserv to integrate ADAPA from Zementis to enhance its Financial Crime Risk Management Platform.
  • TSYS launches Virtual Payment Precept to streamline B2B virtual payments and enhance the ePayables process flow.
  • Dwolla adds more banks to its instant account-verification flow.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

 

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Finvoate Alumni News

By David Penn Posted on
Categories: Blockchain, BlueVine, Coinbase, Fiserv, Ledger

Around the web

  • Let’s Talk Payments features Ledger, Blockchain, and Coinbase in its roundup of blockchain-powered digital wallets.
  • PYMNTS.com interviews BlueVine CEO Eyal Lifshitz on the return of the SMB line of credit.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

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Finovate Alumni News

By David Penn Posted on
Categories: Aire, Akamai, Coinbase, Entrust Datacard, Markit, SnoopWall, StreetShares, Temenos

On Finovate.com

  • “StreetShares Raises $4.5 Million in Series A Led by Fenway Summer Ventures”
  • “CEO Interview: Aire.io’s Aneesh Varma”

On FinDEVr.com

  • “Financial Information Services Provider Markit Merges with IHS”

Around the web

  • USAA to enable Coinbase accounts alongside USAA accounts and services in late March; mobile app upgrade.
  • Temenos and TransUnion forge strategic partnership to bring CreditVision recovery model to credit unions and financial institutions.
  • Let’s Talk Payments lists Akamai Technologies, SnoopWall, and Entrust in its roundup of the hottest mobile security companies.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

 

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Finovate Alumni News

By David Penn Posted on
Categories: Bizfi, Coinbase, Envestnet, Green Dot, Klarna, Ledger, Markit, Qapital, SuiteBox, Symbiont, Temenos

On Finovate.com

  • “Uber, Green Dot Partner to Help Drivers Get Paid Promptly”

On FinDEVr.com

  • “Symbiont and Ipreo Team Up to Accelerate the Loan Settlement Process”

Around the web

  • Western Independent Bankers (WIB) picks Bizfi as its exclusive premier alternative finance solution provider.
  • Coinbase adds stop orders to its Coinbase Exchange platform.
  • Markit unveils new tax utility service.
  • Eris Industries chooses Ledger as its blockchain hardware security partner.
  • Medium.com features Klarna and Qapital in a look at building a startup “the Swedish way.”
  • SuiteBox listed among fintechs that are developing tools to help superannuation funds.
  • Envestnet wins the 2016 Technology Innovation Award from the Bank Insurance and Securities Association (BISA).
  • Pakistan’s Soneri Bank selects T24 core banking system from Temenos.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

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Finovate Alumni News

By David Penn Posted on
Categories: Accusoft, Aerospike, Avalara, Coinbase, Green Key Technologies, Jumio, Larky, Ledger, Misys, NYMBUS, On Deck Capital, Payoneer, SuiteBox, Top Image Systems, VIX Verify, VoicePIN, Zopa

On Finovate.com

  • “Ledger Launches Blockchain Open Ledger Operating System”
  • “Finovate Debuts: VoicePIN Offers an Easy Biometric Login Solution”
  • “Finovate Debuts: SuiteBox Introduces its Virtual Meeting Rooms for Financial Professionals”

On FinDEVr.com

  • Avalara teams up with WooCommerce to help online merchants manage sales taxes.

Around the web

  • OnDeck partners with Innovate Finance to debut Transatlantic Policy Working Group.
  • LandlordReferencing.co.uk to use Netverify from Jumio to comply with the U.K.’s new Right to Rent law.
  • The United Bank of Egypt upgrades to latest Misys core banking solutions as part of major modernization of retail, SME, and corporate businesses.
  • Top Image Systems launches next generation, automated accounts payable solution, eFLOW AP.
  • Zopa’s new lender products are live.
  • Golden West CU processes 15 new applications for insurance products in first 30 days of deploying Larky.
  • Coinbase introduces stop orders on Coinbase exchange.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

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Finovate Alumni News

By David Penn Posted on
Categories: BillGuard, Check Point, Coinbase, Credit Karma, Ethoca, Insuritas, Markit, ThreatMetrix, WorkFusion

On Finovate.com

  • “ThreatMetrix Launches Digital Identity Graph”

On FinDEVr.com

Around the web

  • Markit to deploy smart automation technology from WorkFusion.
  • Ethoca teams up with Pegasystems to help fight ecommerce fraud.
  • Michigan First Credit Union ($764 million in assets) picks Insuritas to open and run turnkey insurance solution.
  • Finance Magnates shines on Credit Karma and BillGuard in its Fintech Spotlight.
  • Check Point launches Check Point R80 to help consolidate the security environment.
  • Coinbase now lets users buy bitcoin instantly with a debit card.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

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Coinbase, Motif Investing Earn Spots on Fast Company’s Most Innovative List

Coinbase, Motif Investing Earn Spots on Fast Company’s Most Innovative List
By David Penn Posted on
Categories: Coinbase, Motif Investing

FastCompany_MostInnovativeWith Coinbase and Motif Investing both winning a place on Fast Company’s list of Most Innovative Companies of 2016, it looks like bitcoin and innovations in investing remain two of fintech’s hottest trends.

Fast Company Editor Robert Safian said, “This year’s package – which includes top ten lists in 27 sectors – emphasizes the breadth of companies with progressive, agile business models, cultures of creativity, and ability to adapt in today’s fast-paced world.” Fast Company added that 2016 also marked the first year the magazine used machine intelligence – in this case, technology from a San Francisco company called Quid – to “help inform the list.” The list will be published in the March 2016 issue of the magazine.

Fast Company’s “Most Innovative” roster for 2016 headlines with familiar brands and businesses like BuzzFeed, Facebook, and CVS Health (“for becoming a one-stop health stop”). Coinbase and Motif Investing are among ten companies earning recognition in Fast Company’s Finance category: Coinbase “for making bitcoin user-friendly” and Motif Investing “for expanding its theme-based trading.”

coinbase-logoThe news comes as Coinbase CEO and co-founder Brian Armstrong made headlines in the debate over how to scale bitcoin. Armstrong favors an approach that would immediately double capacity, as opposed to other proposals that would increase capacity by as much as 4x over a longer period of time.

Last month, Coinbase announced that the 30Shift Card, a bitcoin Visa debit card launched in partnership with Shift Payments in November, had processed more than $1 million in bitcoin and had signed up more than 10,000 cardholders. Founded in 2012 and headquartered in San Francisco, Coinbase demonstrated its Instant Exchange technology at FinovateSpring 2014.

MotifInvesting_logo_new2016A two-time Best of Show award-winner, Motif Investing demonstrated its Advisor Platform at FinovateSpring 2014. Last month, Motif debuted its recurring transfers feature, and in October, the company partnered with JP Morgan to give investors on the Motif platform access to shares in JP Morgan-managed initial public offerings.

Founded in 2010 and headquartered in San Mateo, California, Motif Investing CEO is Hardeep Walia, who is also a co-founder.

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