The ECB’s decision to expand an emergency bond-buying program by €500B may represent latest installment of years-long balance-sheet increase.
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Author: Bradley Keoun
Curv is teaming up with MetaMask to allow institutions to invest in DeFi protocols while having institutional-grade custody options.
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Author: Nathan DiCamillo
The live repo trade used a blockchain application built in-house, as well as the bank’s jpm coin.
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Author: Tanzeel Akhtar
Two juggernauts of the financial services industry are backing crypto startup Lukka as it vies to equip traditional Wall Street firms with its suite of data products.
In an announcement Thursday, Lukka — known for its crypto tax service LukkaTax — said that it closed a Series C fundraising round. Participants in the round included S&P Global, the firm behind Wall Street’s ubiquitous indexes, and custodial bank State Street. CPA.com, which is affiliated with the American Institute of Certified Public Accountants (AICPA), also participated in the round.
CEO Robert Materazzi told The Block that the round was “very strategic in nature” with the participants all having existing commercial relationships with the firm. Already, more than 160 crypto-native hedge fund clients use Lukka’s software and data products. The startup now wants to target more traditional funds through these relationships with large financial services firms.
“First step in giving them capabilities is doing so through the logos they’re already customers with,” he said.
Lukka did not share how much it raised, but a filing with the Securities and Exchange Commission shows it raised $15 million. The firm declined to comment on the valuation at which it raised the round as well as recent revenue figures.
The funding announcement follows news that data providers IHS Markit and S&P Dow Jones Indices would work with the firm as they move into the market for digital assets. As for S&P DJI, the firm plans to launch in 2021 its own branded index — essentially, an S&P 500-like index but for the crypto market — that uses Lukka’s tools.
© 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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Author: Frank Chaparro
YIELD sets out to simplify the process of investing in DeFi products.
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Author: Sebastian Sinclair
Lukka is looking to go mainstream with a strategic investment from three stalwarts of traditional finance.
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Author: Danny Nelson
Paxful has partnered with Kenya-based remittance network BitLipa to allow users to buy and sell bitcoin and the tether stablecoin.
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Author: Tanzeel Akhtar
The ECB says the additional monetary policy actions were needed because of a resurgence in coronavirus cases.
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Author: Bradley Keoun
Financial data records collected by FinCEN are a valuable tool for law enforcement. They’re also a trove of personal data on people who have not committed a crime.
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Author: Benjamin Powers
Quick Take
- Yearn.Finance has recently announced a series of “mergers” with other DeFi protocols — namely Pickle.Finance, Cover, Akropolis, and Cream
- For now, these are simple partnership announcements. Resources are shared, but they are not mergers enforced by smart contracts
- Still, they are the first steps to what could be real M&A activity between protocols. Whether those are a good idea depends on your view of how protocols should be governed
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Author: Mika Honkasalo
