This Week's Noteworthy Investment Moves: Major Crypto Alliances and Innovative Deals Unveiled

This week has seen a flurry of exciting investment deals and strategic collaborations within the blockchain and digital asset realms. Noteworthy instances include Oobit teaming up with Tezos to facilitate global $XTZ tap payments and PIP Labs successfully raising $80 million in a Series B funding round to propel their Story Protocol forward. Additionally, Ledn has made strides with its unique Bitcoin-supported syndicated loan, alongside Fanton Fantasy Football's $1 million in seed funding aimed at integrating blockchain technology into fantasy sports.

Oobit Joins Forces with Tezos for Global $XTZ Tap Payment Integration and iOS App Launch

Oobit, a leader in cryptocurrency payments, has partnered with the Tezos Foundation to incorporate $XTZ, the native currency of Tezos, into their platform. This innovation will allow users to conduct tap payments at any Visa or Mastercard terminal around the globe. Moreover, Oobit has just launched an iOS application for iPhone users, making crypto tap payment transactions more user-friendly and accessible. Tezos, an open-source platform, addresses core challenges hindering the adoption of blockchain technology for various assets and applications. Thanks to the integration of $XTZ into the Tap & Pay system, users can now seamlessly use their digital assets for everyday purchases, bridging the gap between traditional banking systems and the thriving world of blockchain.

Furthermore, Oobit is enabling Tezos Network functionality for deposits and withdrawals on its platform. This partnership with the Tezos Foundation significantly advances Oobit's goal of mainstreaming cryptocurrency as a recognized means of payment. As they aim to broaden their services, both Android and iOS users in the EU can already make in-app crypto tap payments.

PIP Labs Secures $80 Million in Funding for Story Protocol

PIP Labs has successfully raised $80 million in a Series B funding round co-led by notable investors like a16z Crypto and Polychain Capital. This substantial investment elevates the company's valuation to an impressive $2.25 billion, marking a pivotal moment in its growth journey.

The funds will be allocated to developing the Story Protocol, an advanced layer-1 blockchain designed specifically for tokenizing property rights. This groundbreaking technology aims to tackle significant challenges in the fast-evolving landscape of digital content creation and AI training by enabling creators to establish ownership and usage rights for their intellectual property on the blockchain.

1/ Celebrating a Total of $140 Million Raised to Develop Story, the World’s IP Blockchain.

With over 200 teams using its platform and 20 million intellectual property assets being generated, Story Protocol has already gained significant traction. These assets span various sectors, including consumer markets, AI, and intellectual property finance, highlighting the technology's versatility and promising impact. pic.twitter.com/9M3tqqYcvO

— Story (꧁IP꧂) (@StoryProtocol) August 21, 2024

Ledn Successfully Secures a $50 Million Bitcoin-Backed Syndicated Loan

Ledn, a digital lending platform, has made waves by securing a $50 million syndicated loan backed by Bitcoin.

This groundbreaking deal was syndicated by Sygnum, a prominent digital asset banking firm managing $4.5 billion in client assets. It's a historic first in the industry to be backed by Bitcoin. Structured similarly to how Ledn manages retail loans, this innovative loan model requires collateral top-ups at specific loan-to-value ratios. This modern financial tool is expected to bolster Ledn's retail lending operations and potentially create new avenues for cryptocurrency-backed lending in the broader financial sector.

By executing this deal, Ledn aspires to set a new standard for Bitcoin's recognition as a legitimate asset class within conventional finance. The company believes this pivotal move could pave the way for integrating cryptocurrency assets into mainstream financial markets, potentially leading to the introduction of various other financial products incorporating cryptocurrency in the future.

Fanton Fantasy Football Raises $1 Million in Seed Funding

Fanton Fantasy Football, a gaming platform that integrates blockchain technology, has successfully raised $1 million through a seed funding round. This round was led by prominent blockchain investors, signaling strong confidence in the platform's potential.

Phase 3 has arrived, featuring four national teams that have reached the semifinals.

🏆⚽️ EURO 2024 @FantasyFanton Football Tournament ⚽️🏆

Sign up by July 9th at 19:00 UTC, select your team, accumulate points, and win! ➡️

Fanton leverages Telegram, a widely-used messaging platform, to bridge traditional gamers into the Web3 ecosystem. Its unique approach combines blockchain technology with fantasy sports engagement, utilizing NFT player cards for team creation and scoring based on actual football matches. https://t.co/de3x4kM9ka

Details: https://t.co/bxyMy1R1Bi pic.twitter.com/NmzGgVrzMd

— TON 💎 (@ton_blockchain) July 8, 2024

The newly acquired funding will be used to expand the Fanton platform and enhance user experiences. With its blockchain pivot, Fanton aims to revolutionize how fans interact with their favorite sports, while potentially opening up fresh revenue opportunities within the sports entertainment industry, tapping into the $32.75 billion fantasy sports market.

Fabric Cryptography Completes $33 Million Series A for Data Privacy Chip

Silicon Valley's Fabric Cryptography has successfully concluded a $33 million Series A funding round, attracting investment from various prominent blockchain firms including Offchain Labs, Polygon, and Matter Labs.

1/ We are excited to announce that Fabric Cryptography has successfully secured $33 million in Series A funding, aimed at expediting advanced cryptography workloads through our general-purpose chip – the Verifiable Processing Unit (VPU).

The primary aim of this funding is to develop the Verifiable Processing Unit (VPU), an innovative silicon processor specifically designed for cryptography. The VPU has a specialized instruction set architecture tailored for cryptographic applications, allowing it to deconstruct each cryptographic method into basic mathematical components that the processor can accelerate natively. pic.twitter.com/DcboNxZV2c

— Fabric Cryptography (@FabricCrypto) August 19, 2024

Fabric Cryptography aims to significantly enhance both the performance and efficiency of cryptographic applications compared to traditional CPUs and GPUs. The startup's VPUs have already drawn considerable pre-orders from the Web3 sector, highlighting the robust demand for specialized cryptographic hardware solutions.

Aptos Foundation and Myco Join Forces on Web3 Streaming

A strategic collaboration has been established between the Aptos Foundation and Myco, a Web3 streaming platform.

The primary aim of this partnership is to promote advancements in Web3 technologies and create a more decentralized streaming experience by integrating Myco’s platform with the Aptos blockchain. As part of this collaboration, Myco plans to transition its infrastructure to the Aptos blockchain, aligning with its long-term vision for complete decentralization. This shift is forecasted to enhance the platform’s capabilities and provide users with a more reliable streaming experience fueled by blockchain technology.

A crucial element of this partnership is Myco’s planned launch of its native utility token on the Aptos blockchain, set for early Q4. This token launch, along with the technical integration, is anticipated to unlock new opportunities for both users and content creators in the decentralized streaming space.

Bitpanda and RAKBANK Team Up for a Digital Asset Platform

Bitpanda Technology Solutions has partnered with RAKBANK to develop a digital asset management platform specifically for UAE nationals.

Through offering a regulated banking framework that accommodates digital assets, this partnership aims to fill a gap in the market. RAKBANK can deliver digital asset services without the need for building internal infrastructure, thanks to Bitpanda’s expertise. By taking this strategic step, RAKBANK positions itself as a leader in the banking sector's adoption of digital assets in the United Arab Emirates, potentially unlocking new revenue streams and attracting technology-oriented clients.

As the partnership has been announced, the platform is still pending approval from the UAE Central Bank. If authorized, it will enhance the digital asset offerings available to RAKBANK clients, demonstrating the bank's commitment to embracing digital assets as a forward-thinking approach to safe and effective financial management.

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