In this edition of The Daily we cover a funding round by a Swiss startup that lists crypto instruments on the SIX exchange, an expansion of the Coinsource ATM network using a new business practice, and a new feature added to the Etoro wallet.
Amun Raises $4 Million in Initial Funding Round
Swiss crypto asset investments startup Amun AG has announced it has completed its first funding round. The round raised $4 million for Amun, and brought on board a number of known industry figures including Adam Draper, founder of Boost VC, Graham Tuckwell, founder of ETFS Capital, and Greg Kidd, co-founder of Hard Yaka. The round also saw participation of four family offices from the U.S., Switzerland and the Middle East.
Amun is a platform for creating crypto indices and issuing crypto products, in addition to listing, settling, and custody of physically-backed crypto products on public exchanges. Last year it listed an instrument on the Swiss SIX Exchange called HODL, which is a physically backed exchange-traded product (ETP) based on five popular cryptocurrencies (BTC, ETH, BCH, XRP and LTC).
Hany Rashwan, the CEO of Amun, explained that the company plans on using the newly raised funds to keep investing in technical infrastructure, to launch additional crypto-tracking exchange-traded products across multiple geographies, and to help others bring crypto assets to the public markets.
Coinsource Expands in Durham, North Carolina
Coinsource, the Texas-based cryptocurrency ATM network, has reached a partnership with data security company Halo Privacy, expanding its existing network with a two-way (buy and sell) machine in Durham, North Carolina. The partnership makes Halo Privacy the first company to license the ATM network’s technology and operate one of its machines. Sheffield Clark, the CEO of Coinsource, stated that in entering this new stage of business practice the company remains committed to expanding its service to all of the U.S. and eventually reaching international markets.
Jamie Marden, director at Halo Privacy, explained: “Partnering with Coinsource to develop BTM networks is a core part of our strategy in the space and they have been outstanding counterparts. We plan to roll out to new markets over the course of 2019 and are excited be contributing to the still nascent cryptocurrency industry.”
Holder of a New York state Bitlicense, Coinsource already operates over 200 kiosks in more than 20 American jurisdictions.
Etoro Wallet Users Can Now Buy Crypto In-App
Etorox, the digital asset subsidiary of social investment platform Etoro, has announced that users of its wallet can now buy cryptocurrencies with fiat directly within the wallet app. All crypto assets available in the wallet (BTC, ETH, BCH, LTC and XRP) can be purchased directly in the app using a credit or debit card (Visa, including Visa Electron and Visa Plus, Mastercard, Maestro and Cirrus).
To enable this new functionality, Etorox has partnered with Simplex, a licensed financial institution that combines payments processing with fraud prevention technology. Founded in 2014, Simplex is headquartered in Israel, with subsidiaries in the U.K., U.S., and Lithuania. The service processes credit card payments for some of the largest crypto exchanges, wallets, and platforms around the world.
If the service is still not available in your location, the company explains that the Etoro wallet is a new product that is being rolled out on a phased basis both in terms of geographic reach and functionality. Additionally, at present purchases can be made only in euros or pounds sterling.
What do you think about today’s news tidbits? Share your thoughts in the comments section below.
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