Mercuryo.io – a fast-growing Estonian startup that bills itself as a European leader in cryptocurrency payment processing solutions closed a €2.5M seed funding led by Target Global, a major international VC fund with €800M+ under management.

Mercuryo.io is a cross-border payments network that enables businesses across the world to send and receive payments for goods and services using cryptocurrencies.  Its infrastructure provides solutions for virtual accounts, business payments, remittance processing, and mass payouts regardless of local payment methods and currencies. Mercuryo.io technology allows cryptocurrencies to be used in any form of payments worldwide. It empowers more businesses to be part of the global blockchain community.

Target Global confirms it is investing in Mercuryo.io technology. Mike Lobanov,  co-founder, and General Partner at Target Global said:

“At Target Global, we are great believers that the fintech now is a lot about infrastructure. We’ve already made our bets on Rapyd in fiat alternative payments infrastructure, Copper and Cryptofacilities in institutional crypto infrastructure.

As a relatively new asset class just gaining traction, cryptocurrencies require a secure payment infrastructure that Mercuryo.io is building. Mercuryo.io has launched with 150+ crypto projects to become a crypto-fiat gateway with a further launch of multiple other crypto payments products. As Stripe and Adyen once became a new standard of card payments, we believe Mercuryo.io can become a disruptor of crypto payments. And now we are excited to become Mercuryo’s supporters since the early days.”

Mercuryo.io co-founder and CBDO Petr Kozyakov says Mercuryo.io has managed to deliver great traction, demonstrating 20x volume growth in the last six months.

“This summer, we have tripled our partners’ portfolio. Now Binance, Tozex, Trezor, STEX, Pemex, AAX, Tokens, PointPay, Invity.io, MCX, TrustWallet have Mercuryo.io on board as a fiat-to-crypto processor partner.  We are becoming more and more popular due to our clear policy, transaction speed, and transparent fees. This is probably the reason why cryptocurrency enterprises such as Bitfinex, BitForex, BTC-Alpha, OKEx are already integrated with Mercuryo.io. We have reached 200K+ users and have ambitious plans to scale up operations across Europe, Latin America and Africa, which is now feasible due to our latest partnership with Target Global.”

About Target Global

Target Global is an international investment firm headquartered in Berlin, with €800M+ in assets under management. With offices in London, Tel Aviv, and Barcelona, they connect the key European startup ecosystems and leverage the unique DNA of each of our target geographies, across a global network. Target Global helps exceptional entrepreneurs to build market leaders. Target Global invests across multiple stages, investing in fast-growing tech companies, targeting trillion € markets. Our Partners have been investing for more than 15 years in the digital technology space, backing some of the key European success stories. The Target Global portfolio includes companies such as Rapyd, Delivery Hero, Reef Technologies, WeFox, and others.

About Mercuryo.io

Mercuryo.io was founded in Estonia in 2018 as a cryptocurrency exchange payment provider. It is operating across Europe, and it has offices in Tallinn and London. Mercuryo.io complies with PCI DSS international information security standards, which means tight control measures surrounding the storage, transmission and processing of data that businesses handle. The standard is adopted by VISA, MasterCard, AmEx.

Source: Cointelegraph

 

Disclaimer: This is a paid press release. Any information contained in this website is not proposed to be and doesn’t constitute financial advice, investment advice, trading advice, or any other advice. TheNewsCrypto is not responsible to anyone for any decision made or action taken in conjunction with the information and/or statements in this press release.

Singapore, September 3, 2020 – CyberVein, the next generation big data and analytics company is proud to announce two major developments:

• The launch of Data Analytics and Valuation Exchange (DAVE) an alliance, which enables data-driven and technology companies to utilize their resources more efficiently.
• The company was awarded the status of Technical Lead by the People’s Government of Hainan Province to develop a Smart City in Wenchang.

CyberVein’s DAVE initiative focuses on data-intensive companies by offering three core solutions:

• Data, storage space, or computing power (GPU) marketplace, where users can purchase said resources with CyberVein’s tokens, CVT.
• A data derivatives pool, where users can purchase derivatives of data extraction and big data concepts.
• A decentralized token exchange, where users can swap data tokens directly with each other.

“We are thrilled to continuously provide value to our community of big data professionals.” Jack Ge, Founder and Managing Director of CyberVien stated: “The DAVE initiative is in line with our company’s vision to solve three major problems in the big data space: information siloing, data security, and data monetization.”

An IoT leader, IOTEX is one of the first companies to join DAVE, while technology giants Xiaomi and Huawei have shown their support for the initiative.

CyberVein has a proven track record in the data-intensive industries, such as smart cities, IoT, medical research, logistics, and payments. In the past three years, CyberVein’s team has successfully completed more than 20 large scale projects. Some of them include the Port District Government of Zhoukou City, Hong Kong Capital Pay CS Pay, Shanghai Taishi Tax Rebate, and the Dubai Smart City Program.

It is due to the company’s strong track record; the People’s Government of Hainan Province has awarded CyberVein the Technology Lead for the Wenchang Smart City Project. CyberVein’s proprietary big data technology will be used as the core platform, ready to integrate with other partners’ applications.

“CyberVein’s experience in deploying customized solutions and big data architecture is impressive.” Stated Xia Zonghua, Guangdong-Hong Kong-Macao Taiwan District Blockchain Association Founder, cQianhai Huichao Investment Partner, Chairman of the Huawei Blockchain Special Committee, Founder of Qianhai Himalaya Investment Holdings, Major shareholder of CyberVein, and Former Senior Executive of Huawei (Huawei Technology Co., Ltd.). “The company has our trust and commands the respect of other consortium partners.”

Other renowned companies have joined the smart city project, such as Huawei, BYD, Mijia, and AXA among others.

It is worth mentioning that CyberVein’s CVT token has been performing extremely well this year. It’s year-to-date performance currently stands at 2750%.

About CyberVein

CyberVein’s proprietary technology is a big-data solution is based on the PISR (private, interlink, secure, robust) distributed database. The company is focusing on the enterprise-level “blockchain + big-data” customized services. CyberVein is using a Directed Acyclic Graph (DAG) storage chain, to create safer data storage and increase efficiency. With DAG there is no need for block confirmation. Users benefit from low transaction fees since mining is not required. The system supports asynchronous verification and parallel processing of each node. The more nodes, the faster the speed, the stronger the scalability. CyberVein was founded in Singapore CV Technology Foundation in 2017.

Source: Cointelegraph

Disclaimer: This is a paid press release. Any information contained in this website is not proposed to be and doesn’t constitute financial advice, investment advice, trading advice, or any other advice. TheNewsCrypto is not responsible to anyone for any decision made or action taken in conjunction with the information and/or statements in this press release.

The popularity of the DeFi market and expectations for the launch of the ETH 2.0 staking mechanism flood the crypto market in 2020. The rapid development of DeFi and Staking markets is driving the two mechanisms of DeFi and Staking to interact more and more in the blockchain landscape, and superposition has produced more and more composability. But the problem also followed.

In the Polkadot ecosystem, there is also such a project that is positioned in the DeFi basic protocol and aims to solve the liquidity of PoS tokens, which has attracted market attention under this background. Bifrost recently announced the completion of a seed round of $600,000. Investment institutions include NGC Ventures, SNZ Holding, Consensus Lab, Digital Renaissance, Youbi Capital, DFG, Longhash, etc. Bifrost said:

“Investors participating in this round of financing are not lack of early Polkadot investors and staking business-related institutions. It is expected that these institutional investors will be able to provide Bifrost with parachain slot auctions and staking liquidity business support in the future.”

Currently Bitfrost has conducted two rounds of Testnet including Asgard CC1 and Asgard CC2.

Bifrost said that they will participate in the Polkadot network’s slot auction in the future and become a Polkadot parachain to provide online real vToken swap, and plans to launch the mainnet in the fourth quarter of this year.

What is Bifrost? 

Bitfrost is a cross-chain network that provides liquidity for staking. It is developed based on Substrate and built on the Polkadot network. As a DeFi project in the Polkadot ecosystem, Bifrost users can swap PoS Tokens into vTokens through the Bifrost Protocol at any time to obtain Staking rewards and liquidity.

The project has already obtained the Web3 Foundation Grant before completing this round of seed funding, and is also a member of the Substrate Builders Program under Parity and Web3 Bootcamp.

What problem does Bifrost want to solve?

DeFi and Staking rewards competition issues

Due to the emergence of DeFi products including liquid mining, DeFi products may bring users a super high annualized rate of return, but whether the prosperity built on the ETH PoW consensus can continue under the ETH 2.0 or Polkadot PoS consensus is a problem. For users, when staking and DeFi lending can only choose one of them, which method is more profitable becomes the basis of choice. The PoS consensus network will compete with DeFi products from the underlying mechanism to compete for users. To solve the problem of DeFi and staking rewards competition, Bifrost allows users to obtain staking rewards and release liquidity at the same time to obtain and optimize the interests of more DeFi fields including DEX, liquidity mining, etc.

PoS Network liquidity and security mutually exclusive issues

The PoS determines that the security of the network is maintained by the staking mechanism, which also means that the liquidity and security of the PoS network are in a mutually exclusive state. Under normal circumstances, increasing the liquidity of staking requires weighing network security, and the PoS token liquidity solution seeks to break this restriction, reduce the opportunity cost of users participating in staking, and at the same time increase the overall staking rate of the PoS public chain.

Staking reward acquisition in cross-chain scenarios

With the launch of cross-chain projects such as Polkadot and Cosmos, users will participate in more and more cross-chain scenarios, and the current cross-chain exchange of tokens may cause users to lose the Staking reward of the original token. Bitfrost aims to build cross-chain features in parachains through vToken, so that Staking rewards can also be obtained in cross-chain scenarios.

How is Bifrost achieved?

Bitfrost provides an intermediate layer between staking and the application layer, so that the staking and application layer originally built on the underlying protocol change from a parallel relationship to a top and bottom compatible relationship, thereby solving the problem of DeFi and Staking reward competition.

The project designed a mechanism that allows users to swap PoS Tokens into Bifrost vTokens through the Bifrost Protocol at any time, and each PoS Token will correspond to a different vToken, such as vDOT that bridges Polkadot tokens. Bifrost said that the nature of vToken includes:

• By providing the liquidity of vToken, the liquidity and security of the PoS network can be achieved, thereby solving the mutual exclusion problem of the liquidity and security of the PoS network.
• The cross-chain feature built in the parachain through vToken enables Staking reward in cross-chain scenarios, thereby solving the problem of obtaining Staking reward in cross-chain scenarios.

Source: Cointelegraph

Disclaimer: This is a paid press release. Any information contained in this website is not proposed to be and doesn’t constitute financial advice, investment advice, trading advice, or any other advice. TheNewsCrypto is not responsible to anyone for any decision made or action taken in conjunction with the information and/or statements in this press release.