The company formally known as Align Commerce has raised $24m as part of its plan to simplify global fiat currency payments using the bitcoin blockchain.
Now rebranded as Veem, the company that aims to make bank wire transfers extinct, will first use the new funds to usher in two-way transactions in all of the countries it already does business with.
Then, later this year, the company plans to spend additional resources leveraging an upcoming hiring spree to accelerate the rate it expands into additional markets.
But perhaps the most dramatic change going forward could be the addition of a new blockchain as an additional payments rail on which Veem’s customers can transact.
In conversation with CoinDesk, Veem’s co-founder and CEO Marwan Forzley said that, while his company’s main payments rail continues to be the bitcoin blockchain, they are also able to send payments using Swift’s interbank messaging platform, and given sufficient liquidity, are actively exploring additional blockchains.
According to Forzley:
“The concept here is to optimize the experience for our users based on what payments rail works best.”
The Series B investment was led by the recently launched National Australia Bank Ventures, with GV (formerly Google Ventures) and
Read more ... source: CoinDesk
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