Safello One of 3 Bitcoin Startups Selected for Barclays Accelerator
Three Bitcoin-related businesses have been accepted into the Barclays Accelerator program. The program is run jointly with Techstars, which provides seed funding, intensive mentorship and a network of mentors and alumni in exchange for a 7-10% equity stake in their supported ventures.
It is the first time Bitcoin-related companies have entered the program. Overall, ten startups have been accepted out of hundreds of applicants.
The best known of the three is Safello, a Sweden-based bitcoin brokerage. Speaking to DC Magnates, CEO and co-founder Frank Schuil said that his company's compliant approach to the market and long-standing relationship with a leading Swedish bank indicate a message of stability to the venture investment world.
The company did experience a setback back in January when its UK-based bank account was shut down, making it more difficult to serve UK clients. As to the potential for better banking relationships--long a pain point in the crypto world, Schuil said, "We have high hopes, but there's no certainty in Bitcoinland, as we know from experience. The selection of Safello to the program does signal a positive trend amongst the banks and regulators. This is a great improvement compared to when we first started the company and opened the path for broader acceptance."
The program lasts for 90 days, after which the startups will present their progress. Schuil said that the objectives of its program participation cannot be publicly disclosed until after the presentation.
The timing of their entry is good; Popular European crowdfunding site FundedByMe is Hosting Hosting Hosting refers to the location of a broker’s technology stack. This is one of the most crucial elements of a brokerage that helps prevent the company from losing money due to being unable to mitigate latency risks.Brokers or exchanges are traditionally very vulnerable to latency arbitrage due to the speed with which financial markets move. The traditional datacenter locations for forex brokers are all centered at Equinix facilities around the globe. What Are the World’s Foremost Data Centers?Sin Hosting refers to the location of a broker’s technology stack. This is one of the most crucial elements of a brokerage that helps prevent the company from losing money due to being unable to mitigate latency risks.Brokers or exchanges are traditionally very vulnerable to latency arbitrage due to the speed with which financial markets move. The traditional datacenter locations for forex brokers are all centered at Equinix facilities around the globe. What Are the World’s Foremost Data Centers?Sin a 45-day campaign to raise €472,634 for Safello.
Schuil believes that the Techstars resources will be highly valuable. "Our team is impressed with the forward-thinking mentors behind this world-class Techstars program. We are very excited to get the opportunity to join the Barclays Accelerator to explore ways to expand our platform," he said.
The other two Bitcoin companies to be accepted are Atlas Card, which is developing bitcoin-powered debit cards, and Blocktrace, which is working on Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe -based solutions for the insurance industry.
Three Bitcoin-related businesses have been accepted into the Barclays Accelerator program. The program is run jointly with Techstars, which provides seed funding, intensive mentorship and a network of mentors and alumni in exchange for a 7-10% equity stake in their supported ventures.
It is the first time Bitcoin-related companies have entered the program. Overall, ten startups have been accepted out of hundreds of applicants.
The best known of the three is Safello, a Sweden-based bitcoin brokerage. Speaking to DC Magnates, CEO and co-founder Frank Schuil said that his company's compliant approach to the market and long-standing relationship with a leading Swedish bank indicate a message of stability to the venture investment world.
The company did experience a setback back in January when its UK-based bank account was shut down, making it more difficult to serve UK clients. As to the potential for better banking relationships--long a pain point in the crypto world, Schuil said, "We have high hopes, but there's no certainty in Bitcoinland, as we know from experience. The selection of Safello to the program does signal a positive trend amongst the banks and regulators. This is a great improvement compared to when we first started the company and opened the path for broader acceptance."
The program lasts for 90 days, after which the startups will present their progress. Schuil said that the objectives of its program participation cannot be publicly disclosed until after the presentation.
The timing of their entry is good; Popular European crowdfunding site FundedByMe is Hosting Hosting Hosting refers to the location of a broker’s technology stack. This is one of the most crucial elements of a brokerage that helps prevent the company from losing money due to being unable to mitigate latency risks.Brokers or exchanges are traditionally very vulnerable to latency arbitrage due to the speed with which financial markets move. The traditional datacenter locations for forex brokers are all centered at Equinix facilities around the globe. What Are the World’s Foremost Data Centers?Sin Hosting refers to the location of a broker’s technology stack. This is one of the most crucial elements of a brokerage that helps prevent the company from losing money due to being unable to mitigate latency risks.Brokers or exchanges are traditionally very vulnerable to latency arbitrage due to the speed with which financial markets move. The traditional datacenter locations for forex brokers are all centered at Equinix facilities around the globe. What Are the World’s Foremost Data Centers?Sin a 45-day campaign to raise €472,634 for Safello.
Schuil believes that the Techstars resources will be highly valuable. "Our team is impressed with the forward-thinking mentors behind this world-class Techstars program. We are very excited to get the opportunity to join the Barclays Accelerator to explore ways to expand our platform," he said.
The other two Bitcoin companies to be accepted are Atlas Card, which is developing bitcoin-powered debit cards, and Blocktrace, which is working on Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe -based solutions for the insurance industry.