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American Express Invests in Institutional Trading Platform FalconX
FalconX announced Wednesday that American Express Ventures made the investment as an extension of a fundraise earlier this year, but did not disclose an amount.
American Express is taking a stake in the white-hot cryptocurrency industry, investing in institutional trading platform FalconX.
STORY CONTINUES BELOW
- FalconX announced Wednesday that American Express Ventures made the investment as an extension of a fundraise earlier this year, but did not disclose an amount.
- In May, FalconX revealed that it had raised $17 million in a seed round led by Accel – which has stakes in Facebook and Slack.
- Coinbase Ventures, Flybridge Capital Partners, Lightspeed Venture Partners, Fenbushi Capital, and Avon Ventures also participated at the time.
- “Amex Ventures invests in startups as a way to better understand emerging areas of the payments ecosystem, and we are pleased to support FalconX as it continues to drive innovation in the digital asset space, including digital currencies,” said Harshul Sanghi, global head of Amex Ventures.
- Since the May round, FalconX said it has experienced revenue growth of 350% and transaction volumes have tripled to about $3 billion on a monthly basis. It now has 250 institutional clients.
See also: Accel, Coinbase Join $17M Funding Rounds for Institutional Crypto Trading Firm FalconX
Tanzeel Akhtar
Tanzeel Akhtar has contributed to The Wall Street Journal, BBC, Bloomberg, CNBC, Forbes Africa, Financial Times, The Street, Citywire, Investing.com, Euromoney, Yahoo! Finance, Benzinga, Kitco News, African Business Magazine, Hedge Week, Campden Family Office, Modern Investor, Spear's Wealth Management Magazine, Global Investor, ETF.com, ETF Stream, CIO UK, Funds Global Asia, Portfolio Institutional, Interactive Investor, Bitcoin Magazine, CryptoNews.com, Bitcoin.com, The Local, The Next Web, Mining Journal, Money Marketing, Marketing Week and more. Tanzeel trained as a foreign correspondent at the University of Helsinki, Finland and newspaper journalist at the University of Central Lancashire, UK. She holds a BA (Honours) in English Literature from the Manchester Metropolitan University, UK and completed a semester abroad as an ERASMUS student at the National and Kapodistrian University of Athens, Greece. She is NCTJ Qualified - Media Law, Public Administration and passed the Shorthand 100WPM with distinction. She does not currently hold value in any digital currencies or projects.
