In another round of investments in the crypto space, Singapore-based crypto bank MinePlex has secured $100 million from digital asset investment firm GEM Digital Limited (GEM), aimed at closing the gap between digital assets and traditional banking.
According to an Oct. 11 announcement, MinePlex will use the funding to develop new banking technologies, including a collaboration with Mastercard and Visa for transactions accepting Tether (USDT), Bitcoin (
), Ether (
), and TRON (
).
Bringing digital assets and traditional banking services together is MinePlex's big bet.
The platform offers fiat and crypto assets services within the same application, enabling transactions such as bill payments as well as purchases in crypto assets.
Introducing CrossFi, MinePlex's co-founder and CEO Aleksandr Mamasidikov explained to Cointelegraph:
"We created CrossFi, a new technology that runs on the LPoS (Liquid Proof of Stake) consensus algorithm and MinePlex's innovative blockchain, which provides...
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