Westpac-Backed Reinventure Disclosed as Investor in Coinbase's $75M Round
- Reinventure has been disclosed as one of the investors behind Coinbase's record-breaking $75 million funding round earlier this year.
Reinventure, an Australia-based venture capital firm, has been disclosed as one of the investors behind Coinbase's record-breaking $75 million funding round earlier this year.
Reinventure is largely backed by Westpac, one of Australia's Big Four banks. Three weeks ago, the bank revealed cryptocurrency plans of its own, announcing its trialing of Ripple's protocol for international Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl . It is one of three Australian Big Four institutions looking into how the protocol can streamline transfers.
The bank is also one of several notable financial players to have participated in the January investment. These include New York Stock Exchange (NYSE), USAA Bank, BBVA, as well as former Citi CEO Vikram Pandit. NYSE later launched its Bitcoin Index, which tracks Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that prices on Coinbase's exchange, and USAA revealed its looking into Bitcoin's blockchain technology to decentralize operations such as its back office.
Coinbase's services, which are available in 25 countries, are not yet offered in Australia. On its blog, Coinbase hinted that this would change with the partnership, saying, "We plan to work closely with Reinventure and share insights into the use of digital currencies globally."
A Westpac spokesman confirmed the investment with Financial Review, commenting, "Coinbase's mission is to be the most trusted bitcoin company in the world and it is investing heavily in next generation security. Reinventure's investment will provide key insights into the use of digital currencies and associated technologies."
The amount invested is not known, although it is estimated that each party in the round contributed between $1 million and $10 million.
Reinventure, an Australia-based venture capital firm, has been disclosed as one of the investors behind Coinbase's record-breaking $75 million funding round earlier this year.
Reinventure is largely backed by Westpac, one of Australia's Big Four banks. Three weeks ago, the bank revealed cryptocurrency plans of its own, announcing its trialing of Ripple's protocol for international Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl . It is one of three Australian Big Four institutions looking into how the protocol can streamline transfers.
The bank is also one of several notable financial players to have participated in the January investment. These include New York Stock Exchange (NYSE), USAA Bank, BBVA, as well as former Citi CEO Vikram Pandit. NYSE later launched its Bitcoin Index, which tracks Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that prices on Coinbase's exchange, and USAA revealed its looking into Bitcoin's blockchain technology to decentralize operations such as its back office.
Coinbase's services, which are available in 25 countries, are not yet offered in Australia. On its blog, Coinbase hinted that this would change with the partnership, saying, "We plan to work closely with Reinventure and share insights into the use of digital currencies globally."
A Westpac spokesman confirmed the investment with Financial Review, commenting, "Coinbase's mission is to be the most trusted bitcoin company in the world and it is investing heavily in next generation security. Reinventure's investment will provide key insights into the use of digital currencies and associated technologies."
The amount invested is not known, although it is estimated that each party in the round contributed between $1 million and $10 million.