Square will invest in environmentally conscious bitcoin tech. Spains second-largest bank is reportedly planning a leap into the digital asset industry. And large crypto funds topped a combined $15 billion AUM, as markets trade sideways.
Greening the orangecoin
Square has announced the launch of a Bitcoin Clean Energy Investment Initiative, where it has committed $10 million to support companies working on green energy technologies within the bitcoin mining sector. Announced Tuesday, the company said it aims to become a net-zero carbon contributor for operations by 2030 and wants to help drive the adoption and efficiency of renewables within the bitcoin ecosystem. We believe that cryptocurrency will eventually be powered completely by clean power, eliminating its carbon footprint and driving adoption of renewables globally, said Square and Twitter CEO Jack Dorsey.
BBVA, the second-largest bank in Spain, with about $840 billion in assets, is planning a crypto industry entrance by way of Switzerland, according to two sources. BBVA would not comment, but is said to be launching its Europe-wide crypto initiative from Switzerland, according to a close source. There are still some compliance hurdles, but I expect [BBVA] will be live next month, they said. BBVA is rumored to have integrated a digital asset custody solution, called SILO, and was among the first financial institutions to experiment with public and private blockchains in 2018.
Alternative investment intermediary Vincent is seeing record interest in crypto as it launches out of beta. Between October and November, investors looking for digital assets have grown 80%, said Vincent co-founder Slava Rubin. Built by the team behind Indiegogo, Vincent is a kind of investment search engine, where qualified investors can browse for opportunities – actual fundraising occurs on regulated partner platforms – like regulated crypto deals from Grayscale, Republic and Cadence, among other non- ...
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