• Thu, 20 Jun 2019, 12:53 AM
  • All times are UTC
  • Edition:
    International
Copy link
Increase text size
Decrease text size
Link copied

Crypto payments startup Flexa raises $14.1M ahead of public launch

Flexa Homepage Screenshot (TokenPost)

Fri, 12 Apr 2019, 10:10 am UTC

Crypto payments startup Flexa has raised $14.1 million in funding ahead of the company’s public launch slated for May 2019.

The funding round was led by Pantera Capital, 1kx, Nima Capital, Access Ventures, and other strategic partners.

Founded in 2018, New York-based Flexa is a payment network uniting retail and blockchain technologies to make payments between buyers and sellers more efficient, accessible, and affordable. It will enable retailers to take control of their own payments by reducing costs, overhead, and fraud through frictionless, instantaneous, and reliable blockchain-based settlement.

"The anti-fraud and cost benefits of global cryptocurrency payments are enormous, but there are many barriers to mainstream adoption for merchants and consumers alike. Flexa's going to change that, and very quickly," said Tyler Spalding, Co-Founder and CEO of Flexa.

"With this funding, we'll continue to develop our network infrastructure to support our retail network and strategic partners."

Flexa’s token, Flexacoin, is a “digital collateral” token that will enable point-of-sale payments on the Flexa network. Developers and businesses will be able to use the ERC-20 token to stake value on the network for merchant payment processing, CoinDesk explained.

Speaking to CoinDesk, Spalding clarified that Flexa is a business-to-business (B2B) startup, meaning that shoppers would not be required to hold or interact with Flexacoins at all.

In an online post dated August 27, 2018, Flexa introduced the Flex Network Protocol (FNP), which is designed to facilitate payments from any wallet, in any coin, to any merchant, across the globe.

“By making cryptocurrencies spendable in mainstream commerce, our sincere hope is that we can help bring the full promise of blockchain technologies to people all over the world,” it said.

Flexa is also going to launch a mobile app which will help customers make practical use of the cryptocurrencies they already own.

The startup will announce a major product rollout in May at the Consensus conference in New York City.

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $9,282.07 (+1.84%)
  • Ethereum (ETH) $269.22 (+1.30%)
  • XRP (XRP) $0.435600 (+1.66%)
  • Litecoin (LTC) $136.72 (+1.40%)
  • Bitcoin Cash (BCH) $417.03 (+0.75%)
  • Bitcoin (BTC) $9,282.07 (+1.84%)
Jun 19, 2019 (Wednesday)
12:31
Block.one pays $30M for domain name of upcoming blockchain-based social media platform “Voice”
10:56
R3, ripe.io team up to enhance transparency and trust for food and agricultural supply chain using blockchain
09:42
Crypto Technicals: XMR/USD pares previous sessions' losses, close above $100 mark to propel further gains
09:32
Georgian government and universities team up with IOHK to explore blockchain potential
08:33
Crypto Technicals: ETH/EUR retraces with 'Hammer' formation, breakout at 50H SMA (240) to see further upside
07:32
Euroclear develops blockchain solution for commercial paper with Banco Santander, EY and European Investment Bank
07:15
Litecoin Foundation, Bibox, Ternio to unveil physical cryptocurrency debit card 'Litecoin Blockcard'
06:47
Crypto Technicals: BTC/USD fails to close below $9000 mark, consolidates above 5-DMA ahead of next bullish leg
06:43
Facebook Libra Project runs into political opposition in Europe, U.S.
06:28
Power Ledger announces blockchain-based P2P energy trading project in Austria
04:37
Crypto trading platform Bittrex International expands to Liechtenstein
04:16
Coin Metrics, Social Market Analytics team up to provide crypto Twitter sentiment data
03:15
Accenture to ink blockchain traveler ID deal with Canada, Netherlands, others: Report
03:10
Hyperledger welcomes Microsoft, Salesforce, Ethereum Foundation among roster of new members
03:08
Japan reports 170% spike in crypto-related consumer inquiries in 2018
Jun 18, 2019 (Tuesday)
13:16
Facebook officially unveils much-awaited cryptocurrency ‘Libra', sets eyes on H1 2020 for launch
11:23
Samsung SDS proposes ‘3C’ solutions to address blockchain adoption concerns
10:05
Zilliqa teams up with Xfers to bring blockchain benefits to Southeast Asian businesses
09:17
Coinone Transfer, SBI Ripple Asia team up to facilitate blockchain-based remittance in South Korea
06:36
BitTorrent creator Bram Cohen becomes CEO of Chia Network as Ryan Singer steps down
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft