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Thursday, October 6, 2022

Dave Got An Investment Offer Worth $100 Million From FTX US

Among all the series of applications in fintech, Dave is at the top and has bagged the offer of crypto services like Venmo, PayPal, and Cash App. This Monday, Dave, the banking application in mobile has declared their partnership with FTX US which will provide a platform for payment of cryptocurrencies. Moreover, along with the partnership, an investment of $100 million has also been offered to Dave by FTX Ventures. 

New Partnership Of Dave And FTX US

In a statement given by Dave, the investment that they received will help them in the future to sort out strategies in regard to initiatives of cryptocurrencies. Dave and FTX US are both looking for ways that will help them to build crypto payments into the platform of Dave. 

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Brett Harrison, the President of FTX US, has stated that they are trying to coordinate with organizations that will help them to adopt digital assets, of which the application is already an expert. The CEO of the company, Jason Wilk, expressed that by joining hands with FTX US, the world-class leader, the application will slowly get entry into the world of digital assets. Moreover, they will help them to grow in the market and will enhance their member experience. 

The FTX Ventures was launched this January and it is the investment part of FTX. This investment hand consists of a total $2 billion fund that they have planned to invest in companies or in crypto space. The mission of FTX is to bring advancement in the blockchain globally and also the development of web3 adoption. 

The United States-based fintech application contains more than 6 million members. The users of this application get a service of a cash advance and a product of credit building and budgeting. It was also in the news that PayPal asked for crypto support this January and then had the objective to launch their stablecoins.

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