Biz Builder Mike

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PlasmaPay Joins Force With Kava Labs to Provide users With Kava & Hard Token Access

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PlasmaPay, a global payment and remittance platform for decentralized finance (DeFi), announced on Monday it has formed a partnership with Kava, a decentralized bank for digital assets providing users with stablecoins, loans, and interest-earning opportunities. According to PlasmaPay, the collaboration will see the full integration of the Kava Protocol into PlasmaPay, allowing PlasmaPay users to purchase KAVA tokens and store them on the PlasmaPay wallet.

“Initially, this partnership will allow PlasmaPay users to purchase KAVA tokens, including HARD and USDX, at the PlasmaPay checkout. HARD is a governance token that was recently listed on Binance and BitMax for the first time. USDX is a stablecoin popular among users seeking to earn interest on their digital assets. The long-term collaboration will focus on full integration of Kava’s services, including the Kava wallet, into PlasmaPay’s decentralized financial infrastructure.”

PlasmaPay further revealed that through the partnership it will also support Kava’s lending and staking protocols on Plasma Finance, allowing integration to the PlasmaPay DeFi Dashboard. While sharing more details about the partnership, Ilia Maksimenka, CEO of PlasmaPay, stated:

“With Bitcoin currently enjoying a bull run akin to 2017 highs, interest in decentralized finances is as high as it’s ever been – migrating beyond the cryptocurrency enthusiast into the mainstream. At PlasmaPay we are dogmatic in our mission to bring DeFi to the masses. Adding protocols such as Kava to our repertoire is a continuation of our work to provide access to best-in-class assets for our users.” 

Brian Kerr, CEO of Kava, added:

“I’m excited to bring HARD, USDX and KAVA to the 100,000 users across 165 countries that are currently being served by PlasmaPay’s wallet. The ability to buy crypto directly on the PlasmaPay wallet with a credit card opens up endless opportunities for anyone to easily access digital assets simply by downloading an app and entering their credit card information.”

Founded in 2017, PlasmaPay describes itself as a global payment and remittance platform for people and digital business. It allows users to securely store crypto and fiat currency, buy and exchange popular digital assets, make and receive payments, build their own payment network with zero-fee transactions.

“Our mission is to create an open financial platform for the world to unlock the full potential of new blockchain technolog

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Report States that US Intelligence is Worried About China’s Involvement in Cryptocurrency

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A report claims that the US Director of National Intelligence (DNI) John Ratcliffe has contacted SEC Chairman Jay Clayton regarding China’s influence in the crypto market including mining.

According to the Washington Examiner, the DNI is worried that China has too much control when it comes to crypto.  Reportedly, a senior intelligence official told the publication the following:

“There are serious national security concerns about China’s control over Bitcoin and Ether … The president’s recent executive order made abundantly clear the threat posed by securities investments that finance Communist Chinese military companies. Digital currency controlled by the CCP could certainly fall into that category, but the bottom line is that we cannot allow China to dominate the technologies and innovations that are going to decide who runs the world for decades to come — from artificial intelligence to digital currency, and everything in between.”

The same report pointed to recent tweets by Ripple’s General Counsel – commenting on China’s influence in the crypto markets:

The relationship between the Trump administration and China has been fractious at best. In fact, China is frequently criticized by the current President regarding an ongoing trade dispute. Some people anticipate that once the Biden administration moves into power the rhetoric directed at China may be toned down as public officials change policy direction.

While the DNI may have sent a letter to the SEC regarding their concerns pertaining to crypto, expect little action to take place as the current Chairman has already announced his departure from the agency at the end of the year.

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U.S. Insurtech Assurely’s Latest Seed Rounds Brings Total Amount Raised to $3.7 Million

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Assurely, a U.S.-based insurtech that provides embedded insurance as a service, recently announced its closed its seed round, which was led by ATX Ventures. The company reported that the investment round brought its total funding to just more than $3.7 million.

Founded in 2016, Assurely describes itself as an insurtech company that creates and distributes insurance products for changing industries.

“Our technology drives a new model for insurance that supports the new and changing risks created by the fundamental changes in our economy and lives.”

Assurely further revealed it launched its first product, TigerMark, which is a directors and officers–like insurance program targeting the massive changes in how companies use technology and the internet to find investors and raise capital, primarily via the JOBS Act – Reg A, Reg CF and Reg D-506(c). The insurtech claims that no other insurance company is currently providing appropriate insurance for this market. Speaking about the investment, Chris Shonk, Co-Founder and Partner at ATX Ventures, stated:

“Assurely is absolutely the exact right team positioned at the exact right time to capture this market. ATX is thrilled to back such an exceptional and ambitious team to lead their debut institution round of funding.”

The investment round’s funds will enable Assurely to aggressively expand its technology infrastructure and to bring more products to market in record time. The company did not disclose the full amount raised through the round.

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