Finoa, a digital asset custody and financial services platform for institutional investors and corporations, today announced the close of an approx. €18.1 million Series A funding round. The new round was led by European venture capital firm, Balderton Capital, with further participation from existing investors Coparion, Venture Stars and Signature Ventures, as well as an undisclosed investor.
Finoa was founded in 2018 by Christopher May and Henrik Gebbing to enable secure and regulated institutional access to the world of digital assets and blockchain-powered innovation.
Over the past year, the Berlin-based company has grown its revenues more than fifty-fold. Through an intuitive interface and innovative security infrastructure, Finoa has spearheaded institutional access to a wide range of blockchain-enabled use cases, and exclusively supported the main-net launch of many leading crypto networks like Dapper Lab’s FLOW protocol, NEAR, and Mina. Today, Finoa is serving more than 250 customers, including industry leaders like CoinList and some of the largest crypto funds globally.
Finoa will use the proceeds to build out its products and services, scale up the team, meet the rapidly growing institutional interest for digital assets, and enable participation in innovative financial services. It means that Finoa is one step closer to delivering on its aspiration of becoming a regulated one-stop-shop for institutional investors and corporations to manage all their digital asset needs.
“We are proud to have established Finoa as Europe’s leading gateway for institutional participation and incredibly excited to accelerate our growth even further. We look forward to supporting new exciting protocols and projects, empowering innovative corporate use cases, and adding additional (decentralized) financial products and services to our platform,” said Christopher May, Finoa’s co-founder.
“With Balderton Capital joining our group of investors, we have added a renowned partner who brings unparalleled expertise in disrupting traditional financial services. With their experience and network, we have found the best support we could imagine, helping us facilitate greater institutional adoption of digital assets globally and continue to build an industry leader in the crypto-ecosystem,” noted Henrik Gebbing, Finoa co-founder.
Colin Hanna, Principal at Balderton Capital added: “Chris, Henrik, and the entire Finoa team have built a deeply impressive business which bridges the highest levels of professionalism with radical innovation. As custodians of digital asset private keys, Finoa needs to be trusted both with the secure management of those keys and with the products and services that allow their clients to fully leverage the power of native digital assets. The team they have assembled is uniquely positioned to do just that. As they continue to witness exceptional growth, we look forward to teaming up with Finoa on their journey towards becoming a category-defining digital asset bank.”
Robo-Advisor AQUMON Launches SmartGlobalX, a “Smart” Bitcoin ETF Product for Investing in Securitized Digital Assets
Robo-advisor AQUMON has launched SmartGlobalX, which is described as a “smart” Bitcoin exchange-traded-fund (ETF) investment portfolio. It integrates SmartGlobal algorithms with a Bitcoin ETF in order to allow customers to invest in securitized digital assets, starting from as low as $1,000.
AQUMON’s management noted that when compared with crypto trading that typically requires extensive investment experience, a lot of time, and attention, SmartGlobalX can assist investors with managing risks and receiving steady returns via data-driven, automated strategies.
With significantly lower management fees of around 0.4%-1% and less than 1% tracking errors, Bitcoin ETFs are considered by some to be considerably more liquid and secured with a greater return (on average) when compared to various other BTC investment products.
By making investments into Bitcoin ETFs instead of trading the actual digital currency, investors are allowing AQUMON to manage the complications and security concerns associated with cryptocurrencies, the announcement explained.
AQUMON stated that investors don’t have to be concerned about crypto exchanges, wallet security and can focus on the unique features of BTC.
SmartGlobalX’s Bitcoin ETF allocation only comprises 2%-4% of the investment portfolio, which means that investors have BTC to bring up or balance out their portfolios when other assets are not performing well.
When compared to a return of 56.85% from AQUMON’s SmartGlobal Max, the Bitcoin ETF gives AQUMON’s SmartGlobalX a net return of 106.12%, the announcement noted.
Kelvin Lei, CEO and Co-Founder of AQUMON, stated:
“As a digital wealth management platform that aims to make investment accessible and affordable to the general public, we understand the hurdles for retail investors to invest in this high-risk asset. SmartGlobalX manages the risks and concerns investors have, making Bitcoin investment effortless and approachable.”
AQUMON is a Robo-Advisory company with head offices in Hong Kong. Its mission is to “bring professional wealth management services to every individual.”
The company’s management explains that they “utilize an algorithmic, data and machine learning approach to provide clients access to diversified global asset allocation.” Through AQUMON’s intuitive intelligent platform, their clients can “seek to maximize long term return with low cost, low risk and transparency.”
In 4 years of operations, AQUMON has “grown out of an incubator at Hong Kong University of Science and Technology (HKUST) into a fully licensed financial service firm (SFC Type 1, 4 and 9) with offices in Hong Kong, China and Singapore.”
AQUMON provides institutional solutions with “highly robust” and customizable investment products. AQUMON is working with over 50 major financial intuitions and fund managers and remains focused on expanding its operations.
AQUMON is reportedly backed by the Alibaba Entrepreneur Fund and other institutional investors.
Coinsmart. Beste Bitcoin-Börse in Europa
Milestone: Gemini Surpasses $30 Billion in Crypto Under Custody
U.S.-based digital assets firm Gemini announced on Tuesday it now has more than $30 billion in crypto under custody. Gemini reported that it more than tripled its crypto under custody since the beginning of 2021.
Gemini also revealed details about other milestones it recently made:
“We serve a range of institutional clients, such as hedge funds, trading firms, corporate treasuries, and asset managers. In March, we announced Gemini Fund Solutions, which supports more crypto fund issuers than any firm in the world. We’ve assisted asset managers in successfully launching several exchange-listed crypto funds, including the first North American bitcoin and ether ETFs.”
Founded in 2014, Gemini describes itself as a next-generation cryptocurrency and custodian that allows customers to buy, sell, and store digital assets such as bitcoin and ether.
“Gemini is building a bridge to the future of money. We offer an industry-leading suite of crypto-native products and tools for individuals and institutions; enabling them to grow, manage, and use cryptocurrency holdings with world-class security, compliance, and customer experience.”
The milestone was announced just weeks after Gemini revealed details of its first-of-a-kind cryptocurrency rewards credit card, including a partnership with Mastercard and WebBank. The company reported that the credit card, which has more than 140,000 people on its waitlist, will be making its debut in Summer 2021. Gemini also reported that the Gemini Credit Card will offer real-time crypto rewards available in all 50 U.S. states and will be accepted wherever Mastercard is accepted.
NSAV ANNOUNCES LAUNCH OF VIRTUABROKER’S PROPRIETARY CRYPTOCURRENCY PRICE SEARCH FEATURE
London, England, May 12, 2021 – OTC PR WIRE.- Net Savings Link, Inc. (OTC Pink: NSAV), a cryptocurrency, blockchain and digital asset technology company, today announced that its prized holding, VirtuaBroker, has launched its revolutionary Cryptocurrency Price Search feature, which is one of the basic building blocks of its advanced automated trading non-custodial platform. The Platform’s users can utilize a simple interface to select which exchanges they want to connect to their dashboard and connect them so that real time price and transaction information is viewed.
VirtuaBroker’s proprietary High-Performance Computing (HPC) system allows real time transactions to occur with all connected exchanges at high speeds without lag time.
VirtuaBroker’s proprietary Price Search (PS) algorithm allows real time price searches across all connected exchanges to determine the best purchase prices and worst purchase prices per exchange.
VirtuaBroker’s proprietary Engine combines its HPC and PS to conduct real time transactions based on the best prices across all connected exchanges.
VirtuaBroker has 6 exchanges connected to its Price Search algorithm: Binance, Bittrex, Bitfinex, Kraken, Hitbtc, Coinbase Pro.
VirtuaBroker, whose platform is based on Artificial Intelligence (AI) and offers a full range of trading services, such as portfolio management, price search function, and much more. VirtuaBroker’s Cryptocurrency Trading Platform is your 24/7 account manager. Customers will save time and be provided with an optimal trading experience. The AI Platform allows users to optimize the trades that they require according to their selected objectives and allows them to make decisions based on market sentiment data. VirtuaBroker’s security policy is its pillar and is based on a five-tiered security stack, including Fraud Protection, Privacy Protection, Encryption and Network Defenses, VirtuaBroker Security ID and Security Alerts.
With the recent IPO of Coinbase, which valued it at over $85 billion and the announcements of Tesla and Mastercard joining the Crypto revolution, the management of NSAV believes that this will be a major step in fulfilling the Company’s ambition of being a leading player in the over $200 billion annual cryptocurrency market.
Dani Garcia, founder and CTO of VirtuaBroker stated, “After three years of back-end development, I am looking forward to engaging the fragmented crypto market with a software as a service that will improve user experience in trading across all exchanges.”
James Tilton, president of NSAV stated, “We are thrilled that after a bit of a quiet period, VirtuaBroker is now kicking into high gear and the announcements of developments with its one-of-a-kind, Cryptocurrency Trading Platform, will now begin to come at a furious pace. I, like all NSAV shareholders can’t wait for the full launch at the end of May, which is right on schedule.”
NSAV’s vision is the establishment of a fully integrated technology company that provides turnkey technological solutions to the cryptocurrency, blockchain and digital asset industries. Over time, the Company plans to provide a wide range of services such as software solutions, e-commerce, advisory services, financial services and information technology.
For further information please contact NSAV at firstname.lastname@example.org
The NSAV Twitter account can be accessed at https://twitter.com/nsavtech
This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, which are intended to be covered by the safe harbors created thereby. Investors are cautioned that, all forward-looking statements involve risks and uncertainties, including without limitation, the ability of Net Savings Link, Inc. to accomplish its stated plan of business. Net Savings Link, Inc. believes that the assumptions underlying the forward-looking statements contained herein are reasonable, any of the assumptions could be inaccurate, and therefore, there can be no assurance that the forward-looking statements included in this press release will prove to be accurate. In light of the significant uncertainties inherent in the forward- looking statements included herein, the inclusion of such information should not be regarded as a representation by Net Savings Link, Inc. or any other person.
Net Savings Link, Inc.
Digital Asset Financial Tech Firm BitOoda Reports Recent Increase in Bitcoin Mining Revenue
The team at BitOoda, a global digital asset financial technology and services platform offering risk management solutions, best-execution brokerage and market analysis, has released their Weekly Hash Report (dated 5/10/2021).
As mentioned in the report from BitOoda, Bitcoin (BTC) surged 3% week on week (WoW), “reaching $58,288 as of 5/9 at midnight UTC.”
The BTC network tracked 186 blocks mined yesterday (May 9, 2021), maintaining levels “over 170 through most of the week,” the report from BitOoda confirmed while adding that the upcoming difficulty reset will “see a large increase in target Hashrate, possibly to new all-time highs.”
The report further noted the total Bitcoin earnings per PH/s “are ~6.47mBTC, down from ~6.55mBTC / PH/s last week on decreased Transaction fees (Tx fees). (1mBTC or milliBTC = 1/1000 BTC.)” The report added that Tx fees “fell 121 bps WoW to 5.6% of miner rewards, as we see low congestion levels in the ‘Mempool’ driven by the high block count.”
The report revealed that Bitcoin mining revenue “increased to $377 / PH/s per day and $409/MWh due to the slightly higher spot price.”
As stated in the report:
“The BitOoda North American Hash Spread™ gained 1.2% WoW from $386 to $390 as BTC price rose and power prices edged up. We define the BitOoda Hash Spread™ as the difference between the cost of power per MWh and the Bitcoin mining revenue per MWh. This gives miners a quick sense of the surplus generated by their business to cover personnel, overhead, depreciation, and profit.”
Bloomberg data reveals that “a weighted average around the clock U.S. wholesale industrial power price of $18.38 / MWh, leading to an aggregate spread of $390 across 5 power markets,” the report noted.
It also mentioned that older-generation S9-class devices “saw their Hash Spread™ stagnate at $97 / MWh. S17-class devices, the bulk of the current installed base, saw a hash spread of about $280 / MWh.”
As noted in the report, the current target Hashrate “of ~147 EH/s implies ~143 MWh power consumption per Bitcoin mined using S19 rigs, and substantially more using older-generation equipment.”
As stated in the latest BitOoda report, current crypto mining economics “leave a significant margin of safety for miners, who can absorb both power price and Bitcoin price fluctuations, even as we expect total network Hashrate to continue to increase.”
The report continued:
“The 143 MWh of power consumption per BTC mined translates into ~$2,600 in power expense mining with S19-class rigs, based on the current average North American power price. It costs $9,325 using S9 rigs, still an 80%+ margin, excluding labor. As a rule of thumb, we estimate labor costs to be (very) approximately $1000 / BTC for S19-class rigs, about $1500 for S17-class rigs, and $4000 for S9-class rigs.”
The main takeaways from BitOoda’s report are:
- Sustained high block counts “suggest a possible all-time high difficulty reset by Thursday morning, implying an unusually short 11.5-day difficulty epoch.”
- Mining remains “an attractive way for investors to gain exposure to Bitcoin, although mining rig shipping delays enhance price and difficulty risk.”
BitOoda says it can help customers manage risk via “compliant, systematic, and rigorous hedging programs.”
You can contact the BitOoda team at [email protected] so you can talk about how they can potentially assist you with managing your risk or gain exposure to the blockchain and digital asset space.
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