In this blog, we curate relevant and remarkable content related to blockchain, cryptocurrency and the digital economy. This fascinating news by Ian Allison published on coindesk provides some details on PayPal’s investment in a blockchain technology start up. Read on.
“Online payments giant PayPal has made its first-ever investment in a blockchain technology company.
Announced today, PayPal has joined the extension of a Series A funding round in Cambridge Blockchain, a startup that helps financial institutions and other companies manage sensitive data using shared ledgers.
Neither PayPal nor Cambridge Blockchain disclosed the investment amount, but recent filings with the SEC indicate that Cambridge Blockchain has raised a total of $3.5 million in new equity from several investors over the past nine months. That follows the $7 million close of its Series A in May of 2018, and brings the total capital raised to $10.5 million.”