The mainstream adoption of crypto and the underlying tech, the blockchain, has been one of the most important goals of the crypto space.
There have been various developments and achievements happening that have been triggering crypto adoption, and these continue.
The price of Bitcoin clearly shows that we’re on the right track.
American Express invests in crypto platform
It’s been just revealed that American Express joins a few large financial service providers that bet on the crypto exchange FalconX.
FalconX is a San Francisco-based institutional crypto start-up, and they just announced Amex’s investment via a new press release.
The online publication the Daily Hodl notes that the total amount of investment by AmEx has not been disclosed.
FalconX said that they are adding to the $17 million worth of funding raised in May from more influential players in the crypto and finance industry.
“American Express Ventures joined existing investors Accel, Accomplice VC, Coinbase Ventures, Fenbushi Capital, Flybridge Capital Partners, Lightspeed Venture Partners, and Avon Ventures, a venture capital fund affiliated with FMR LLC, the parent company of Fidelity Investments, adding to the $17 million in funding FalconX announced on May 13, 2020,” according to the official notes.
Solving the complex needs of institutional crypto clients
It’s also important to note the fact that FalconX has built a seamless platform to solve the complex needs of institutional crypto clients, according to AmEx global head of ventures Harshul Sanghi.
“FalconX is helping bring simplicity to the increasingly complex digital asset space through a platform that provides discovery and pricing all in one place. Amex Ventures invests in startups as a way to better understand emerging areas of the payments ecosystem, and we are pleased to support FalconX as it continues to drive innovation in the digital asset space, including digital currencies.”
We suggest that you check out the complete press release in order to learn more details.