Crypto a revolution? This banking giant continues its conquest of decentralized finance

A bank in peer-to-peer – The Japanese banking giant Nomura invests in the payment company Finality. The bank ofinvestment wants to make a place for itself in the crypto and blockchain ecosystem, through this operation and the launch of its new venture capital firm dedicated to companies that embrace decentralization.
Fnality: a peer-to-peer payment of fiat currencies
Fnality is a London-based company founded in 2019, which was first known asUtility Settlement Coin. The startup therefore planned to develop a payment system wholesale regulated based on the blockchain.
This system would support the US Dollar, Euro, British Pound and Yen. The tokenized versions of these currencies had to be pegged to the relevant fiat currency.
A Reuters article dated September 9, 2020 had then indicated that theUtility Settlement Coinwhich involves 13 of the largest banks in the world, accused a delay related to its application for approval by the regulatory authorities.
Fnality is currently looking to raise $50 million in a Series B round. The same amount he raised in a Series A in 2019.
>> Don’t want to be taken for an apple? Earn Solid Returns with AscendEX Earn (Commercial Link) <<
Nomura invests in Fnality and blockchain and web 3 initiatives
After its announcement of September 26, Fnality now has 17 financial institutions in the list of its supporters. Japanese bank Nomura has invested in the payments company. However, the investment amount n / A not been revealed to the general public.
This operation comes at a time when Nomura has confirmed its interest in the crypto and blockchain ecosystem. The bank recently launched its crypto branch, the Laser Venture Capitalwhich is a venture capital firm based in Switzerland, investing in companies operating in centralized or decentralized finance, web3 as well as blockchain infrastructure providers.
Fnality would plan to use these funds injected by Nomura to finance its expansion into the financial markets in Europe, the United States, and Japan.
The cryptosphere sees a gradual intensification of this reconciliation between the banks, cryptocurrencies and blockchain. On the one hand, banking institutions, like Nomura, invest in projects belonging to this ecosystem. But this rapprochement is also carried out in the other direction, when a crypto platform partially adopts the banking model.
Don’t leave all the good opportunities to the banks. Instead, come and seek returns for your cryptos by registering on AscendEX (commercial link).