Industry Ventures LLC Today Announced the Closing of $180M Direct Venture Fund

Business Wire | August 11, 2020

Industry Ventures, LLC (“Industry Ventures”), a leading investment firm focused on the venture capital market, announced today the final closing of Industry Ventures Direct II, L.P. (“the Fund”) with total commitments of $180 million. The Fund will continue the same strategy of making direct investments into early- and mid-stage technology companies alongside 80 seed and early-stage fund managers backed by the firm. Industry Ventures has previously invested into more than 100 technology companies directly and through dedicated co-investment funds (SPVs). Seven of these companies have completed IPOs, specifically: Datadog, Fastly, Guardant Health, Instructure, Lifelock, Uber and Yeahka. Another seven of these companies have achieved private valuations of $1 billion or more: Automattic, Carta, Coupang, Planet, Quizlet, Stripe and Woowa Brother.

Spotlight

Craig Ramsay, Global Head of Innovation, Global Liquidity and Cash Management, HSBC, talks about how the regulatory environment needs to keep up with the pace of technology advancements, how banks are now using and seeing the value of technologies such as blockchain, AI and biometrics, and how virtual reality will soon start to have an impact.


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CORE BANKING

Bank of America and UK Fintech, Banked Ltd Expand Pay by Bank to Euro Currency Payments

Bank of America | October 17, 2022

Bank of America's innovative online payment solution, Pay by Bank, is now available for euro currency payments. Delivered in conjunction with Banked Ltd., this development follows the UK launch of Pay by Bank in February this year and allows customers of e-commerce companies to pay directly from their bank account. This expansion illustrates how Bank of America is focused on delivering relevant C2B tools to help give its clients a competitive edge. "Pay by Bank is a great example of how we develop technology with our clients' business models top of mind, For example, the Pay by Bank interface can be adapted by European market location and country which in turn, optimises the local user experience." -Chris Jameson, head of Product Management, GTS EMEA at Bank of America Pay by Bank transactions, which are based on the concept of Open Banking, take place in real-time and require no credit or debit card details. This creates a simple, fast and secure online checkout process that benefits consumers as well as merchants. Our Merchant Services clients annually process 8.7 billion transactions (USD 438.3B by volume) online and in store, in the US, Canada and Europe, We are pleased to expand Pay by Bank for euro currency payments and continue to offer consumers more choice with how payments can be made online,said Natalie Willems-Rosman, head of EMEA Merchant Services at Bank of America. Key capabilities of Pay by Bank include: Reduces customer data storage – since a card is not required and it is an online 'account to account' payment, companies do not need to obtain and store customer card data. Streamlines reconciliation – incoming payments are added to a company's receivables, so they can view everything together in one place. Provides an enhanced customer experience – the user interface can be adapted by market location and country. Makes online checkout simpler, faster and more secure: easy and quick to set up by connecting to a company's existing payment system using APIs. leverages the customer's bank authentication network. avoids card processing fees. Pay by Bank euro currency payments will initially be available in France, Germany and Spain and will continue in 2023 with the addition of new countries and currencies. Bank of America is an award-winning provider of global transaction services and was most recently named the World's Best Bank for Payment and Treasury by Euromoney for the second year in a row. Bank of America Bank of America is one of the world's leading financial institutions, serving individual consumers, small and middle-market businesses, and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 67 million consumer and small business clients with approximately 4,000 retail financial centers, approximately 16,000 ATMs and award-winning digital banking with approximately 55 million verified digital users. Bank of America is a global leader in wealth management, corporate and investment banking, and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 3 million small business households through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and approximately 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.

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BITCOIN AND CRYPTO

Creonik Launches To Help Creators Build and Monetize Communities Via Crypto Subscriptions

Calypso Group | November 11, 2022

Creonik launches its platform to allow creators to build their communities and monetize their content via crypto. Available in beta, Creonik is powered by the technologies of Calypso Group, a crypto-native fintech ecosystem for businesses. In 2021 Patreon reported there are more than 200,000 creators across the globe who earn a total value of more than $1.2 billion per year. The creator economy still lacks a reliable way to accept subscription payments and donations in crypto Creonik aims to solve this. The company offers influencers the opportunity to accept crypto payments from their fans in a safe, fast and easy way. Creonik focuses on supporting influencers and creators building private communities for their fans starting with Discord. There are already over 6.7 million active servers on Discord – the app itself has become a chosen destination not just for gaming but also other communities, including crypto. Creonik lets creators offer exclusive content and access to private channels to fans via a monthly subscription fee. Users can subscribe in just a few clicks and pay with USDT, USDC, DAI, FRAX, or other stablecoins. Through gated Discord channels creators can share access to podcasts, blog posts, newsletters, and any other piece of content. The platform offers low commissions: creators getting under $200 monthly are free from any fees, for bigger sums the platform charges only 5%. Creonik automatically gives supporters roles in Discord, and is fully compatible with Patreon, meaning creators can use both platforms at a time to grow their communities. “We want to help creators build their own private communities and provide exclusive content to their fans in a crypto-native way. Creonik already solves the underlying technical challenges from payments management to access gating, Our goal is to let creators make a living with their content sustainably while disrupting the current state of influencer monetization to adapt it to web3 reality.” -Maxim Kudriavtsev, CEO at Creonik Calypso Group aims to bring modern fintech experience to the world of web3 and help projects accept, send and track payments in an easy and compliant way, We guarantee the safety of transactions performed with Creonik service and strongly believe in the potential of the platform to disrupt the donations industry across the globe,says Svyatoslav Dorofeev, CEO of Calypso Group. We see the huge potential behind the solution Creonik offers, and are glad to support the project by providing resources and assistance in the development, design, analytics, and marketing, We believe the company will bring true value to the creators across the globe and are proud to be a part of their journey,says Bulat Ganiyev, co-founder and Managing Partner at Technokratos. Calypso Group was formed earlier this year after Calypso Pay and TheWatch merged to build a crypto-native fintech ecosystem for businesses. Calypso Pay is a high-volume crypto processing platform that allows receiving and making payments in a fast and secure way. TheWatch develops WatchBlock which handles tracking and monitoring for transactions and provides insights into transaction data, purchase history, and risk management. The Group lets businesses accept payments in crypto, confirm their origin for regulatory purposes, run payouts and payroll. Creonik is fully powered by the technologies of Calypso Group — the launch of the project proves our tech solutions can be scaled and used to bring value across the industries, We’ll continue to work hard aiming to drive further innovation,says Alexey Korneev, Chairman of the Board and Co-founder of Calypso Group. About Creonik Creonik is a platform that allows creators to build communities and monetize their content via crypto. It lets the influencers offer exclusive content and communication packages to those who are willing to pay a subscription fee — they set the process in a few clicks and then users can pay fast and easily with DAI, FRAX, USDC, USDT, or other stablecoins. Available in beta, it focuses on supporting influencers that build private communities for their fans on Discord. Creonik is powered by the technologies of Calypso Group, a crypto-native fintech ecosystem for businesses. About Calypso Group Calypso Group is building a crypto-native fintech ecosystem for businesses. It provides a comprehensive set of products and services helping customers accept payments in crypto, confirm their origin for regulatory purposes, run payouts and payroll. Calypso Pay facilitates crypto acquiring, even for subscriptions and payments to vendors and workers. It also allows its clients to sell goods and services by collecting recurring payments and subscriptions in cryptocurrencies in regular intervals. WatchBlock provides tracking and monitoring for transactions and provides insights into transaction data, purchase history, and risk management.

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FINANCIAL MANAGEMENT

Green Check Verified Partners with HSLC to Strengthen Cannabis Business Compliance

Green Check Verified | November 07, 2022

Green Check Verified (GCV), the leading fintech provider of compliant cannabis banking solutions and services, today announced a partnership with The Home Savings and Loan Company of Kenton, Ohio (HSLC). Through this partnership, HSLC will launch its newly formed cannabis banking program, with plans to offer a full suite of products and services to the entire supply chain of businesses within the cannabis industry ecosystem. As the cannabis industry continues to expand in Ohio and legalization efforts on the federal level carry on, the perception of cannabis banking is evolving. Not only are more financial institutions (FIs) finding their way in this space, the financial offerings being provided to the legal cannabis businesses continue to expand as well. In spite of this forward momentum, these legal businesses still have considerable financial services needs that have not been met. This partnership aims to improve integrated compliance for financial institutions and cannabis-related businesses in Kenton and the greater Ohio area. GCV will extend key components of monitoring for marijuana-related business and workflow solutions to automate license verification and monitoring for violations, negative news, and other compliance red flags. “The cannabis industry is growing at an exponential rate in Ohio, and FIs like HSLC are paving the way for these businesses to be successful through new banking services, This is another major step towards improved compliance for cannabis-related businesses, and Green Check Verified is thrilled to be an integral part of the journey.” -Paul Chesek, Chief Growth Officer at GCV We understand the challenges faced by cannabis related businesses when it comes to banking, that’s why we’ve established a Special Accounts Team, We’ve hired the best in class to help businesses navigate the complexities of the cannabis industry. Our team is made up of our BSA Analyst, Crystal Curry, and Ross Richards who serves as our Special Accounts Officer. Crystal and Ross are focused on providing the services businesses need,says Chris Jones, CEO at HSLC. HSLC is paving the way by introducing a cannabis banking program that offers all of the features of its serviced-based way of community banking to these legal businesses. The program includes deposit and lending products for businesses and owners, as well as their employees. HSLC also offers PIN debit merchant services to help facilitate payments by debit cards for cannabis related retail businesses. About Green Check Verified Green Check Verified (GCV) is a regulatory software and services company founded in 2017 by a team of technology, banking, and regulatory experts. GCV focuses on the intersection between community banking and the emerging legal cannabis industry and aims to provide the services and tools needed to connect these two industries in compliant and profitable ways. About HSLC The Home Savings and Loan Company of Kenton, Ohio is a state chartered, full-service community bank, headquartered in Kenton, OH with locations in Lexington, KY. Founded in 1888, HSLC’s focus has always been to serve communities, businesses and individuals with full service lending, banking and merchant services products.

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BITCOIN AND CRYPTO

MoneyGram Introduces New Crypto Service Enabling Customers to Buy, Sell and Hold Cryptocurrency via the MoneyGram App

MoneyGram International | November 02, 2022

MoneyGram International, Inc. (NASDAQ: MGI) (MoneyGram or the Company), a global leader in the evolution of digital P2P payments, today announced the launch of a new service enabling consumers to buy, sell and hold cryptocurrency via the MoneyGram mobile app. This new and innovative feature gives MoneyGram customers in nearly all U.S. states and the District of Columbia1 the ability to trade and store Bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC) by using the Company's leading mobile app. This is the latest crypto-related service launch from a company bringing real-world cryptocurrency and blockchain use cases to life. From on/off-ramp services for digital wallets through partnerships with Coinme, Stellar and G-Coin, to cross-border settlement through Circle's USD Coin (USDC), to the new ability to buy and store crypto simply by using its app, MoneyGram is pioneering cross-border payment innovation and blockchain-enabled settlement. "Cryptocurrencies are additive to everything we're doing at MoneyGram. From dollars to euros to yen and so on, MoneyGram enables instant access to over 120 currencies around the globe, and we see crypto and digital currencies as another input and output option, As a next step in the evolution of MoneyGram, we're thrilled to provide our customers with access to a trusted and easy-to-use platform to securely buy, sell and hold select cryptocurrencies." -Alex Holmes, MoneyGram Chairman and CEO MoneyGram is on a mission to deliver innovative financial solutions that connect the world's communities. With today's announcement, the Company is continuing to execute that strategy and best serve its customer base of tens of millions of people. MoneyGram is committed to investing in new growth opportunities and expanding past its core products to enhance consumer financial services around the world. Holmes added: As consumer interest in digital currencies continues to accelerate, we are uniquely positioned to meet that demand and bridge the gap between blockchain and traditional financial services thanks to our global network, leading compliance solutions and strong culture of fintech innovation. We are excited for this next chapter in our journey. The ability to buy, sell and hold crypto using the MoneyGram app is made possible through the Company's existing partnership with Coinme, a licensed crypto exchange and API-driven crypto-as-a-service provider. Together, since 2021, MoneyGram and Coinme have partnered to expand access to crypto by creating thousands of new locations in the U.S. for consumers to buy and sell bitcoin with cash. MoneyGram is expected to expand its future selection of crypto coins as the Company explores expansion to other markets in 2023, as global regulations allow. About MoneyGram International, Inc. MoneyGram International, Inc. (NASDAQ: MGI), a global leader in the evolution of digital P2P payments, delivers innovative financial solutions to connect the world's communities. With a purpose-driven strategy to mobilize the movement of money, a strong culture of fintech innovation, and leading customer-centric capabilities, MoneyGram has grown to serve over 150 million people in the last five years. The Company leverages its modern, mobile, and API-driven platform and collaborates with the world's top brands to serve consumers through its direct-to-consumer digital channel, global retail network, and embedded finance business for enterprise customers. MoneyGram is also a leader in pioneering cross-border payment innovation and blockchain-enabled settlement.

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Spotlight

Craig Ramsay, Global Head of Innovation, Global Liquidity and Cash Management, HSBC, talks about how the regulatory environment needs to keep up with the pace of technology advancements, how banks are now using and seeing the value of technologies such as blockchain, AI and biometrics, and how virtual reality will soon start to have an impact.

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