#CryptoCorner: Coinfloor Joins with Enumis to Bring Banking to #Crypto Firms, Bitfury Partners with Mphasis to Streamline Financial Services in Trade, Barclays (NYSE: $BCS) Leads $5.5 Million Funding Round for #Blockchain Company Crowdz
Point Roberts WA, Delta BC, May 29, 2019 - Investorideas.com, a leader in crypto and blockchain investing news, in partnership with Fit Pay, Inc.’s (subsidiary of NXT-ID (NASDAQ: NXTD) crypto payment tech, Flip and the Genesis Exchange and Wallet App bring you today’s edition of the Crypto Corner podcast and commentary on what’s driving the cryptocurrency market .
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Stocks discussed: (NYSE:BCS)
UK crypto exchange Coinfloor has joined electronic money institution (EMI) Enumis to bring banking to crypto firms, according to a report from CoinDesk. Coinfloor will receive payment from Enumis for referring said firms, provided they are successful in securing banking services. Obi Nwosu, CEO, Coinfloor, said:
“Being insiders in the crypto space we are aware of crypto companies operating as good and compliant custodians and so now we will vet and review these and recommend them to Enumis for onboarding. I think ‘brokering’ is technically the wrong word, but we are working in partnership with Enumis and introducing clients to the offering.”
Blockchain technology company Bitfury and IT solutions provider Mphasis have announced a strategic partnership to automate and streamline financial services surrounding global trade. Using tokenization, the companies aim to increase the speed of settlements and increase flexibility in liquidity management for financial institutions. Valery Vavilov, Chief Executive Officer of Bitfury, commented:
“Bitfury is pleased to partner with Mphasis to improve fragmented financial systems, helping to make global trade more efficient. Using blockchain technology, we will create interoperable systems that deliver the highest degrees of trust, transparency and security to this industry.”
Blockchain-based invoicing firm Crowdz has raised $5.5 million in a series A funding round led by Barclays Bank (NYSE:BCS) and investment firm BOLD Capital Partners. The Crowdz technology enables clients to bring greaters efficiency to invoicing and payment collection. Payson E. Johnston, co-founder and CEO of Crowdz, said:
"While companies of all sizes can benefit greatly from our global Invoice Exchange, we founded Crowdz with the goal of ensuring that all small and midsize enterprises (SMEs) in particular have access to the cashflow they need in order to survive and grow. Unfortunately, millions of these companies - which account for 75% of global B2B commerce and which need invoice financing the most - have long been excluded from the market. We are pleased to have Barclays and Bold as our strategic partners as we accelerate this journey."
Jens Weidmann, the president of Germany’s Bundesbank – the country’s central bank – has warned against the use of digital currencies, according to a report from Reuters. Weidmann, who is on the European Central Bank’s Governing Council, cautioned that “easy access to digital money could exacerbate bank runs in times of crises, leading to a faster collapse of lenders” and that “easy access could increase volatility in demand for the digital money”.
Sam Mowers, Investorideas
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