Paypal takes step into world of blockchain by investing into startup

The payments giant Paypal have invested in a start-up within the blockchain sector.
In terms of the specifics of investment, the total amount remains unknown.

Ken Chigbo Independent Analyst

Huge payment merchant giant PayPal has made their first investment into the blockchain space. A blockchain startup that focuses on utilizing the technology to give users greater control over their digital identities.

The investment has come as part of an extension to what is known as a Series A funding round in the startup - Cambridge Blockchain. The first round had raised a total of $7 million back in May 2018.

In terms of the payment details, PayPal nor Cambridge Blockchain did not disclose the size of the payment giant – Paypal’s investment. Interesting to note, recent filings with the SEC reveal that Cambridge Blockchain has raised $3.5 million in fresh equity over the course of the nine months since May 2018.

Author

Ken Chigbo

Independent Analyst

Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.

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