Visa and PayPal Backed Blockchain Capital's $300 M Funding

by in Blockchain News

Blockchain Capital Visa PayPal

Venture Capital firm focused on crypto and DLT, Blockchain Capital allocated $300 M in funding for its Fund V. Giant finance firms PayPal and Visa contributed the round.

Related: application announces USDC support

BC was established in 2013. It has financially backed over 110 firms. The number includes crypto platforms Coinbase, Kraken, Aave, and NFT market OpenSea.

The San Francisco-based enterprise is a multi-stage investor and supports both equity and tokens. Capital generated by the recent fundraising will be used for developing blockchain, NFTs, and DeFi. Blockchain Cap. noted that several contributors, among them PayPal and Visa will be part of strategic cooperation.

Earlier this month, BC and Morgan Stanley led a $48 M funding stage for the digital securities protocol Securitize.

In May, the company also headed a $24.25 M financing for DeFi network Balancer.

PayPal and Visa have supported the sector before. Commenting on the deal, the VP of Global Business Development at PayPal, Jose Fernandez da Ponte said the investment enables the firm to connect with the business people drawing the future of the DeFi.

Visa's CFO Vasant Prabhu stated the company aims to enhance all forms of money movement and via the collaboration with Blockchain Cap. the team is supporting further development of digital currencies.