Everything in view: The most important bitcoin news of the week
Bitpanda becomes a unicorn; Morgan Stanley lets investors invest in bitcoin funds; Visa aims for bitcoin integration for merchants; serious allegations against Chris Larsen and Cardano breaks record high after Coinbase listing.
Another exciting week in the crypto space is drawing to a close. A compact overview of the most important events around Bitcoin and Co.
Crypto Exchange Bitpanda Becomes a „Unicorn
The crypto exchange Bitpanda has become Austria’s first „Unicorn“. The company reports this in its news blog. Initially, the start-up had participated in a „Series B“ funding round. The funding was led by Peter Thiel’s venture capital company Valar Ventures. According to media reports, Bitpanda raised around 170 million US dollars and thus became a unicorn. As a reminder, a Wealth Matrix unicorn is a start-up that has reached an enterprise value of at least one billion US dollars. It is not known how high Bitpanda was actually valued. According to TechCrunch, it should be around 1.2 billion US dollars. Moreover, Bitpanda wants to grow with the company value. In the letter published on its homepage, the start-up revealed that it wants to almost double the number of employees in the next few months – from currently 350 to 600 in the future.
Morgan Stanley lets investors invest in bitcoin funds.
As CNBC reports, the US bank Morgan Stanley will soon be giving wealthy clients access to the Bitcoin market. Citing internal documents, the investment bank is said to have informed its staff on Wednesday of a decision under which the broker is expected to soon offer bitcoin funds to the public. Morgan Stanley financial advisors will be able to recommend three different Bitcoin products to clients for investment. Two of the funds on offer come from Galaxy Digital, a crypto fund designed by billionaire and BTC advocate Mike Novogratz. The third financial product, the FS NYDIG Select Fund, is the result of a cooperation between FS Investments and NYDIG. So far, the products are only intended for clients whose portfolios are capitalised to at least 2 million US dollars. Corporate clients must have 5 million.
Visa wants to enable 70 million merchants to make payments in Bitcoin
Visa is following in PayPal’s footsteps and wants to give its customers and merchants access to cryptocurrencies. The company’s CEO, Alfred Kelly, told Fortune’s Leadership Next podcast on Tuesday that he believes cryptocurrencies will become mainstream in the near future. In addition to Bitcoin, Visa also plans to enable the use of stablecoin. Alfred Kelly believes these could play a big role in the future of payments. Furthermore, the Fortune podcast reveals that Visa is currently working with over 35 partners who are involved with stablecoins. In this context, the Visa boss perceives cryptocurrencies in two different ways: on the one hand, Bitcoin is the digital replacement of gold for him, and on the other hand, Stablecoins are fiat-backed digital currencies, according to Kelly.