Cross-border payments platform Currencycloud has raised $fourscore 1000000 in funding from SBI Group, Visa and other investors.

Per a January. 27 press release, London-based Currencycloud secured $80 one thousand thousand from SBI Group, Visa, International Finance Corporation, BNP Paribas and Siam Commercial Bank. Post-obit the investment, Colleen Ostrowski, senior vice president and treasurer of Visa Inc, will bring together the board of Currencycloud.

By its ain account, the startup — which provides embedded B2B cross-border payments — is going to allocate the raised funds for its further growth, expansion of its portfolio of emerging payment methods and development of its partner ecosystem. Currencycloud also intends to integrate with major software platforms and brainstorm support of alternate payment methods such equally mobile wallets, instant payments and cards.

SBI's involvement in crypto projects

SBI Group — i of the major investors in Currencycloud — has actively pursued partnerships and initiatives across the blockchain and cryptocurrency industry.

In belatedly December 2022, SBI cooperated with Germany's 2d-largest stock exchange Boerse Stuttgart Group to promote the adoption of digital assets. Specifically, SBI planned to invest an undisclosed amount in two digital asset-focused subsidiaries of Boerse Stuttgart Grouping — Boerse Stuttgart Digital Commutation and Boerse Stuttgart Digital Ventures.

That same calendar month, SBI Holdings was because paying shareholder dividends in the form of XRP tokens, post-obit the same exercise by its subsidiary MorningStar. SBI would launch the program during the fiscal year ending in March 2022, with Kitao farther stating that it is opt-in.

Other recent investments

Payments behemoth Visa acquired financial engineering science firm Plaid for $5.three billion. Plaid adult a network that allows users to easily connect their financial accounts to the apps they use to manage their financial lives.

January has seen an array of industry-related investments and so far, with TaxBit, a crypto-oriented tax compliance firm, raised $5 million in a seed round that had seen participation from the Winklevoss twins' family function, Winklevoss Capital, and major crypto exchange Binance invested an undisclosed sum in blockchain data monetization startup Numbers.