• Thu, 17 Oct 2019, 10:55 AM
  • All times are UTC
  • Edition:
    International
Copy link
Increase text size
Decrease text size
Link copied

PayPal joins identity startup Cambridge Blockchain’s series A round

Image Via Inside Retail

Wed, 03 Apr 2019, 05:02 am UTC

Online payments giant PayPal has joined the Series A funding round of Cambridge Blockchain, a blockchain-based identity startup.

Founded in 2015, Cambridge Blockchain aims to help financial institutions comply with data privacy rules, eliminate redundant identity compliance checks, and improve the customer experience. Its solutions harness the potential of blockchain to deliver strong digital identities at a global scale.

“By combining blockchain technology with an off-chain personal data service, the company creates an independent source of validation through the network effects of trusted parties, natural persons, legal entities and devices,” Cambridge Blockchain said. “Identity data is reliably and flexibly managed and secured, leading to seamless transactions, operational efficiencies and strong privacy.”

In May 2018, the startup raised $7 million in the first close of its series A round led by HCM Capital, the venture arm of Foxconn Technology Group. Other investors which included Partech, Future\Perfect Ventures, and Digital Currency Group.

The latest funding is an extension of the Series A funding round. In addition to PayPal, Omidyar Network and Flourish, a venture of The Omidyar Group, have also invested in Cambridge Blockchain. The details of the investment have not been disclosed.

“Our service helps streamline digital identity compliance while giving customers control over their identity data,” said Matthew Commons, Cambridge Blockchain’s CEO. “We are honored by PayPal’s vote of confidence, and we look forward to their support and guidance.”

With this investment, PayPal and Cambridge Blockchain intend to explore potential collaborations to leverage blockchain technology.

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (BTC) $8,114.73 (-0.55%)
  • Ethereum (ETH) $177.77 (-0.91%)
  • XRP (XRP) $0.297100 (+2.72%)
  • Bitcoin Cash (BCH) $219.33 (-1.61%)
  • Litecoin (LTC) $53.85 (-1.72%)
  • Bitcoin (BTC) $8,114.73 (-0.55%)
Oct 17, 2019 (Thursday)
10:41
Crypto Technicals: TRON (TRX) resumes weakness, break below 20-DMA could see fresh multi-month lows
09:32
Burj Khalifa owner Emaar taps JPMorgan’s Quorum blockchain for new rewards and loyalty platform
07:42
Towo Labs secures investment from Xpring to develop XRP hardware wallet firmware
07:22
Crypto Technicals: Bitcoin cash (BCH) finds strong support at 208.85, break below to strengthen bearish bias
07:03
US Fed actively looking and debating digital currency issuance: Dallas Fed President Robert Kaplan
07:03
Crypto Technicals: LTC/USD pauses at trendline support (52), further weakness on charts
05:50
EY launches blockchain solution to enhance public fund management
05:49
Crypto Technicals: ETH/USD set to extend weakness, eyes trendline support at 158
04:43
Crypto Technicals: BTC/USD finds major support at 55W EMA (7762), break below to plummet prices
04:39
Natixis, Raiffeisen Bank and others participate in global tokenised collateral trial on R3’s Corda
Oct 16, 2019 (Wednesday)
14:31
Bermuda starts accepting stablecoin ‘USDC’ for tax payments
13:19
Oxford English Dictionary officially adds ‘satoshi’
11:26
Crypto Technicals: XMR/USD holds above trendline support, 'Bullish Divergence' raises scope for upside
11:17
South Korea seeks to transform trade finance using blockchain technology by 2021
10:43
Crypto Technicals: XRP/USD finds stiff resistance at 21W-EMA (0.3008), break above to accentuate gains
09:51
Layer1 raises $50M from Peter Thiel and others to build bitcoin mining facility in Texas
08:39
Crypto Technicals: LTC/USD consolidates break below 20-DMA, on track to test trendline support at 52.25
07:41
Ford trials geofencing and blockchain technology to optimize energy efficiency of vehicles
06:54
India's YES Bank wants to lure more clients for its next planned blockchain model
06:52
Crypto Technicals: ETH/USD hovers around 20-DMA, break below will support further weakness
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft