PayPal and Visa invest in cryptocurrency fund

The venture capital firm Blockchain Capital has attracted the interest of PayPal and Visa, which have decided to participate in a recently launched $300 million (€252 million) fund specializing in cryptoassets.

The two payment giants will also be part of a strategic collaboration program on the subject, about which Blockchain Capital declined to give further details.

Most of the money in this fund will go to projects related to blockchain infrastructure and specific applications such as DeFi.

Founded in 2013, Block-chain Capital has invested in more than 110 companies to date, including Coinbase Global, which debuted this year on the stock exchange, and Kraken, as well as the Anchorage platform.

Downward trend

Cryptocurrencies are not going through their best valuation moment, especially bitcoin, affected by the possibility of a regulatory tightening in China, which wants to curb data mining due to its high energy consumption.

The statements made last month by Elon Musk have also played a role. The Tesla founder announced on Twitter that the company will stop accepting this currency to buy its cars. Bitcoin traded yesterday below $30,000, but then rebounded to $32,000.

Source: Expansión.