Hi Everyone, Thank you for supporting the European crypto ecosystem 🇪🇺.
We are looking for late stage crypto / blockchain or companies leveraging new data management system from Europe. Companies with a revenue of €10m+ or 100+ FTE. Such as Ledger, Elliptic, Chainalysis, Deribit, Paxful, Blockchain.com or Bitwala.
Any tips will be rewarded in brownie points.
Etienne ( Twitter, email@example.com )
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We want to thank our partner NovitasFTCL, a leading boutique firm of corporate finance advisors to the European Financial Technology sector.
Based in London, NovitasFTCL has 45+ years of combined experience in the FinTech sector and executed over 120 transactions across Europe including M&As and Fundraisings.
Do not hesitate to contact me if you want an introduction.
Visa Grants Coinbase Power To Issue Bitcoin Debit Cards
Coinbase, the San Francisco-based cryptocurrency exchange, is now a "Visa Principal" member, making the firm the "first pure-play crypto company” approved by the credit card giant
In addition to being able to issue credit cards, Coinbase’s status as a principal member of Visa gives it access to Visa Direct, a payouts mechanism that already gives users of Square, Venmo and Zelle the option to receive payment instantly for a fee, similar to a traditional wire transfer, instead of waiting three business days using the traditional ACH payment rails
Coinbase launched the Coinbase Card in the UK in 2019. The debit card allows users to spend cryptocurrency as cash everywhere Visa is accepted. The card has since been made available in 29 markets with 10 different supported cryptocurrencies.
Feroz says the U.K. is Coinbase’s largest and most active debit card market, based on usage patterns of the earlier card, followed by Italy, Spain and France, with almost half the current card owners being active users, making purchases ranging from “many” thousands of Euros for large-ticket items to a few pounds for a coffee, he says, adding: “We're seeing quite an even spread.”
🐦 Tweets of the week
If you are interested, I created a Twitter crypto list - Join me!
This week BTC and Gold are continuing to grow…
and big news from my friends at Sorare!
🤹 Startups News
Amsterdam-based retail brokerage firm, BUX, announced the ‘soft launch’ of its crypto trading platform is scheduled for the first week of March, but the Dutch fintech doesn’t aim for instant rapid user acquisition. Dubbed ‘BUX Crypto,’ the branded cryptocurrency investment app will begin onboarding early testers in a controlled way to make sure the platform offers stable performance [Source]
🎁 Startups Product & Partnership
Italy’s new crypto-powered debit card supplier Bitsa has just expanded its prepaid card with major privacy-focused altcoin Monero (XMR). By enabling Monero support on its Bitsa Card, the company unclocks “all types” of XMR-based card transactions in physical stores and online, including card-to-card transfers and Monero conversion to euro (EUR) [Source]
Coinfloor re-focused on BTC
Microsoft has tasked a development team to build a decentralized identity system on top of Bitcoin. Dubbed ION, the second layer network, like Bitcoin’s Lightning Network, will feature its own node structure to complement Bitcoin’s own and will be completely open source [Source]
With Bitcoin, one of the biggest elements of this — and this did take some understanding — was security. All of those other use cases being possible is actually a symptom of no one controlling it. What we really made our decision based on was the decentralized nature plus the security. It’s the cost of attack and how you order transactions that’s important. When we started crunching the numbers, we realized that Bitcoin was the only chain that would probably be too costly to attack.
🏦Regulations / Universities
The Maltese regulator stated that Binance, originally founded in China, has never been granted the required authorization to offer financial services in or from Malta and is therefore not supervised by the MFSA [Source]
Ireland’s Criminal Assets Bureau (CAB) seized 6,000 BTC from a Dublin resident who was accused of growing cannabis on property located in the Wicklow Mountain region. The police found around €450,000 of marijuana plants but the €52 million ($56.1M) of BTC was the biggest single-value asset seizure by the CAB since 1996 [Source]
Since the new German crypto regulation went into effect, financial institutions in Germany have been preparing to offer crypto custody services. Among them is Boerse Stuttgart, the country’s second-largest stock exchange. Having obtained a provisional license from BaFin, the regulator in charge of licensing crypto service providers, Boerse Stuttgart is preparing to offer crypto custody services to institutional investors [Source]
Riksbank, the central bank of Sweden, announced on Thursday, the pilot launch of e-krona, aiming to explore the possibilities of issuing a central bank digital currency [Source]
Swiss Savers View Cryptocurrencies as Option [Source]
The survey conducted by market research institute Intervista on behalf of Migros reveals that 7% of the respondents in two age groups, 18 to 29 and 30 to 55 years old, now own cryptocurrencies
13% of the younger participants believe that digital coins will become even more important for them, or state their intentions to invest in crypto in the future, compared to 7% in the second group.
💰Fundings & M&A
Crypto blogging platform Steemit is undergoing a big change, migrating from its own Steem blockchain to the Tron network. The struggling crypto blogging platform launched in 2016 and made waves when big name libertarian users began to make thousands of dollars per post. The platform’s heyday was short-lived, however, and after the departure of co-founder Dan Larimer of EOS fame, attempts to rebrand, and layoffs, it has finally ended up in the care of crypto mogul Justin Sun, founder of the Tron platform [Source]
Cryptocurrency derivatives exchange Deribit completed its 10% sale of equity, led by QCP Capital and Three Arrows Capital. The Block reported in January that the exchange was looking for buyers of its equity shares at a 9-figure valuation. Deribit is counting on QCP Capital and Three Arrows Capital’s deep Asian ties to help it break into a market that is currently occupied by Asia-based exchanges such as OKEx and FTX [Source]
About the author: Etienne used to head principal strategic investment (Companies, Funds and token investment) at Elwood, One of the largest European digital assets investment firm spun off of Brevan Howard, billion-dollar Macro Hedge fund. Previously, he was part of the founding team at the largest Capital Markets Venture Fund in London, Illuminate Financial