Blockchain Press Releases

Orbital Raises £5M to Help Enterprises Realise the Potential of Blockchain Payments

Published

1 year ago

August 3, 2023

orbital-raises-5m-to-help-enterprises-realise-the-potential-of-blockchain-payments

Ahead of the widespread adoption of crypto payments by businesses worldwide, London-headquartered Orbital group announces its first institutional capital raise, having been profitable since launching in 2017

LONDON, Aug. 3, 2023 /PRNewswire/ — Orbital, the London, Tallinn and Gibraltar-based traditional finance and crypto payments platform for global enterprises, has raised £5M ($6.4M) in an oversubscribed growth round led by Golden Record Ventures, at an attractive valuation in which the founders are maintaining a large majority.

Participants in the round include New Form Capital, GSRV, Psalion and Luminous Futures. The funding marks Orbital’s first institutional capital raise, having been bootstrapped and profitable since being founded in London in 2017.

Orbital provides a range of traditional payment and global FX solutions, but where it deviates from the norm is that it also offers licensed crypto payment services, especially focusing on the business use cases for stablecoins in cross border payments.

Facilitating Fiat and Blockchain Payments

Orbital combines fiat and crypto business accounts to enable traditional, global enterprises, particularly those with exposure to emerging markets, to integrate stablecoins, as well as other major cryptocurrencies and traditional currencies, into existing payment flows. Its APIs further act as an embedded finance solution for stablecoin payments.

For example, companies can accept cryptocurrency payments from customers, off-ramp into traditional currencies like USD, GBP and EUR, and settle into IBAN accounts in minutes. Customers can instantly access new markets, without the need for a physical presence or domestic bank accounts, and if they so choose there’s no need to handle cryptocurrencies themselves.

Orbital is licensed by the Financial Conduct Authority as an authorised payment institution in the UK, and as a virtual currency service provider in Estonia, with other licences to be announced in the coming months.

Orbital’s first institutional capital raise comes ahead of it raising a Series A round, and, despite the current crypto bear market, off the back of its seven-digit monthly revenue having grown over 40% in the last 6 months. It has over 80 clients processing $250M of value every month. Orbital’s headcount is 95 globally, with three offices across London, Estonia, Gibraltar.

The funding round will enable Orbital to continue its rapid growth, secure additional licences in new jurisdictions, and further develop its product.

Corporate Crypto Circumspection

Deloitte’s Global Blockchain Survey found that 80% of senior executives believe that digital assets will be very/somewhat important to their respective industries in the next two years, while data from The Block and Bitquery shows that there were $10 trillion dollars worth of on-chain payments in stablecoins over the last 12 months alone.

However, despite the understanding that digital assets are necessary, adoption has been slow amongst corporates because of a lack of internal knowledge and a mistrust of the industry.

Among digital assets, payments in stablecoin are becoming rapidly more normalised for businesses operating globally because they offer significant benefits for cross border low value C2B and high value B2B payments, particularly when an emerging market is involved. However, although there is currently a plethora of tools available for this, many larger businesses and corporates have struggled to find an overarching solution that doesn’t upset existing banking relationships.

A Single Platform For Multi-Asset Payments

Orbital’s industry-first product bridges the gap between traditional finance and digital asset treasury solutions, offering a regulated, secure and frictionless experience for multinational corporates. It acts as a single point of access to a range of tools needed to run a treasury operation, including multi-currency accounts, foreign exchange, global payments and digital asset custody. Orbital also offers its crypto payment rails via API allowing online merchants the ability to embed crypto payment into their own product or service.

Luke Wingfield-Digby, co-founder and Head of Corporate Development of Orbital, comments: “We believe all modern, global companies will require access to both blockchain and fiat payment rails, from one single platform, to effectively manage their business in the future. Orbital has been built by veterans who deeply understand the needs of large enterprises, which until now have been massively underserved. Our combined expertise in both traditional finance and crypto means that we are uniquely positioned to serve their demands. Bootstrapped and profitable since 2017, we’ve both grown rapidly and raised financing in a very difficult crypto bear market. Now we’re ready to scale even further and push our platform towards the bleeding edge of fintech.”

Jad Benabdelkhalek, General Partner at Golden Record Ventures, adds: “The Orbital team has developed a best-in-class, licensed technology platform that caters specifically to large corporates and enterprises. Up until now these have been underserved, meaning there is a distinct lack of competition, and a huge opportunity for Orbital to fill that gap. The global business community is starting to understand the value and importance of stablecoins and digital assets, and we are delighted to back Orbital which is at the forefront of enabling this change.”

About Orbital

Orbital is a London–Tallinn–Gibraltar based traditional finance and crypto solutions platform for global enterprises. It is a group of licensed providers of a range of traditional payment and global FX solutions, and also for crypto payments, especially focusing on the business use cases for stablecoins in cross border payments. The company has a headcount of 95 globally, with three offices across London, Estonia, Gibraltar. It has raised £5M, with its latest round led by Golden Record Ventures, with participation from New Form Capital, GSRV, Psalion VC and Luminous Futures.

Golden Record Ventures

Golden Record Ventures (GRV) is a London-based early-stage VC firm investing in blockchain applications within the fintech space. Founded in late 2022 by Managing Partners Filippos Kodellas and Jad Benabdelkhalek, the team draws from its investing and restructuring experience to support outliers in disrupting legacy products and services. With a focus on Europe and emerging markets, GRV actively seeks out innovation in payment solutions, asset management, capital markets and the infrastructure that binds them together. GRV has backed 7 companies to-date, including Parfin, Sylq and Freename.

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Blockchain Press Releases

Bybit Pledges RMB 5 Million to Support Relief Efforts Following Devastating Tibet Earthquake

Published

3 hours ago

January 16, 2025

CISION (PR Newswire)

bybit-pledges-rmb-5-million-to-support-relief-efforts-following-devastating-tibet-earthquake

DUBAI, UAE, Jan. 16, 2025 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is deeply saddened by the devastating earthquake that struck Tibet earlier this week, leaving a trail of destruction and heartache.

The tragedy has claimed at least 126 lives, injured 188 people, and displaced tens of thousands as over 3,000 buildings collapsed in the remote region near the northern base of Mount Everest. In response, Bybit is committing RMB 5 million in collaboration with the Red Cross Society of China (RCSC) to support critical relief and recovery efforts in the affected communities.

The 7.1-magnitude earthquake, which struck on January 7, has caused widespread devastation, with extreme winter conditions complicating rescue operations. More than 14,000 rescue workers have been mobilized to search for survivors amid sub-zero temperatures and strong winds, highlighting the urgent need for immediate aid.

“As a responsible global leader in the blockchain industry, Bybit is committed to standing with communities in their time of need,” said Helen Liu, Chief Operating Officer at Bybit. “Our thoughts are with the survivors, the rescue teams, and the families affected by this tragic event. We hope our contribution will help provide much-needed relief and support the road to recovery.”

The donation will be directed towards essential services, including emergency shelter, medical supplies, and food aid, as well as long-term rehabilitation efforts. Bybit is proud to partner with RCSC to ensure swift and impactful assistance to those in need.

At Bybit, we firmly believe in the power of compassion and collaboration. This contribution reflects our commitment to fostering resilience and hope in the face of adversity.

#Bybit / #TheCryptoArk

About Bybit

Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.

For more details about Bybit, please visit Bybit Press

For media inquiries, please contact: [email protected]

For updates, please follow: Bybit’s Communities and Social Media

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View original content:https://www.prnewswire.co.uk/news-releases/bybit-pledges-rmb-5-million-to-support-relief-efforts-following-devastating-tibet-earthquake-302353395.html

Blockchain Press Releases

Bybit & SignalPlus Unveil the 100,000 USDC Global Trading Showdown

Published

11 hours ago

January 16, 2025

CISION (PR Newswire)

bybit-&-signalplus-unveil-the-100,000-usdc-global-trading-showdown

DUBAI, UAE, Jan. 16, 2025 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, and SignalPlus, an innovative social trading platform aimed at democratizing options trading for digital and crypto assets, are excited to announce the Bybit x SignalPlus 2025 Global Trading Competition. With a staggering total prize pool of 100,000 USDC, this competition promises to be the ultimate stage for traders to showcase their skills and seize lucrative rewards.

From now until February 5, 2025, 8:00 AM UTC, the competition is open to all Bybit users—excluding residents of restricted jurisdictions.. This event invites participants to engage in options, spot, or futures trading for their chance to claim a share of the impressive prize pool.

“We are thrilled to partner with SignalPlus for the Bybit x SignalPlus 2025 Global Trading Competition,” said Joan Han, Sales & Marketing Director at Bybit. “This event reflects our commitment to fostering an active and vibrant trading community. Whether you’re a novice or a seasoned trader, this competition offers a platform to enhance your trading skills and earn exciting rewards.”

Chris Yu, CEO at SignalPlus, shared his enthusiasm: “Collaborating with Bybit reflects our unwavering commitment to empowering traders with cutting-edge tools and actionable insights. This competition is a unique opportunity for participants to showcase their trading expertise and be handsomely rewarded for their achievements.”

Competition Highlights

100,000 USDC Prize Pool: Compete for your share of a massive prize pool.
Daily Rewards System: Win prizes daily, with rewards credited promptly to energize your next trades.
Team Competition: The top four (4) teams will split a 7,300 USDC prize pool. Daily, one lucky team member will win a luxury 3-day, 2-night trip to Korea or its equivalent value in USDC.
Individual Competition: The top 35 winners will share 7,702 USDC, with individual prizes ranging from 30 USDC to 2,000 USDC. Daily rankings and lucky draws offer opportunities to win up to 250 USDC.
Daily Lucky Draw: Over 21 days, 129 winners will be chosen daily, ensuring that every trade counts toward exciting rewards.
Special Bonuses: Link your Bybit API to SignalPlus for a 10 USDC rebate. Complete your first Options trade on SignalPlus to earn an additional 20 USDC rebate.

For more details on the Bybit x SignalPlus 2025 Global Trading Competition, please visit here: https://announcements.bybit.com/article/-bybit-x-signalplus-2025-global-trading-competition-returns-with-bigger-rewards-win-your-share-of-the-100-000-usdc-prize-pool–blt36f0435aff9e950f/

#Bybit / #TheCryptoArk

About Bybit

For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: [email protected]
For updates, please follow: Bybit’s Communities and Social Media

Photo – https://mma.prnewswire.com/media/2599537/Bybit___SignalPlus_Unveil_100_000_USDC_Global_Trading_Showdown.jpg
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View original content:https://www.prnewswire.co.uk/news-releases/bybit–signalplus-unveil-the-100-000-usdc-global-trading-showdown-302352908.html

Blockchain

Blocks & Headlines: Today in Blockchain (BubbleMaps, Pantera Capital, Week 2025, FP Complete, FP Block, Bybit, FarmX)

Published

20 hours ago

January 15, 2025

Peter Tolan

blocks-&-headlines:-today-in-blockchain-(bubblemaps,-pantera-capital,-week-2025,-fp-complete,-fp-block,-bybit,-farmx)

Op-Ed: Blockchain’s Expanding Horizons

Blockchain technology continues to disrupt traditional systems, fostering innovation across diverse industries. From advancing digital infrastructure to enhancing transparency and security, its transformative potential is undeniable. Today’s briefing delves into groundbreaking developments that underline blockchain’s growing influence globally.

BubbleMaps Enhances Transparency in Solana Ecosystem

BubbleMaps, a blockchain investigation platform, has extended its capabilities to include Solana tokens. This platform empowers users to visualize token distributions, enhancing transparency and accountability within decentralized ecosystems. By highlighting token relationships, BubbleMaps aids in identifying potential risks, such as centralized holdings or suspicious activity.

This expansion underscores the increasing demand for tools that ensure trust and integrity in blockchain networks, a critical factor in driving mass adoption.

Source: Decrypt

Pantera Capital Highlights Blockchain’s Role in USD Dominance

Pantera Capital has published insights emphasizing blockchain’s crucial role in fortifying the U.S. dollar’s global supremacy. By creating robust digital infrastructures, blockchain technologies enable seamless cross-border transactions, enhance financial transparency, and reduce reliance on intermediaries.

The report advocates for strategic adoption of blockchain solutions to maintain the dollar’s position in an increasingly digital financial landscape. This perspective aligns with broader trends favoring blockchain’s integration into national economic strategies.

Source: Daily Hodl

German Blockchain Week 2025: Bridging Europe and Asia

The recently concluded German Blockchain Week 2025 showcased innovative projects and fostered collaboration between European and Asian markets. Key discussions revolved around regulatory harmonization, decentralized finance (DeFi) opportunities, and cross-border partnerships.

This event highlights the importance of international cooperation in addressing challenges and unlocking the full potential of blockchain technology on a global scale.

Source: AccessWire

FP Complete Evolves into FP Block, Emphasizing Blockchain Engineering

FP Complete has announced its strategic transformation into FP Block, marking a significant shift toward blockchain engineering. This rebranding reflects the company’s commitment to delivering cutting-edge blockchain solutions, including smart contract development, decentralized application (dApp) frameworks, and tokenomics design.

The move positions FP Block as a key player in the blockchain innovation space, catering to the growing demand for specialized engineering expertise in decentralized technologies.

Source: Business Wire

Bybit Web3 Launches FarmX on Telegram

Bybit Web3 has unveiled FarmX, a decentralized farming game integrated into Telegram’s Web3 ecosystem. FarmX combines gaming with blockchain-based rewards, enabling players to earn digital assets through in-game activities.

This innovative approach to gaming exemplifies the potential of blockchain to redefine user engagement, blending entertainment with financial incentives in decentralized environments.

Source: PR Newswire

Analysis and Takeaways

Enhanced Transparency: BubbleMaps’ integration of Solana tokens demonstrates the importance of tools that promote transparency in blockchain networks.
Strategic Infrastructure: Pantera Capital’s insights reinforce the critical role of blockchain in maintaining economic dominance in the digital age.
Global Collaboration: Events like German Blockchain Week 2025 emphasize the need for international partnerships to address regulatory and operational challenges.
Specialized Engineering: FP Block’s focus on blockchain engineering highlights the growing demand for expertise in building decentralized systems.
Blockchain Gaming: Bybit Web3’s FarmX showcases the fusion of gaming and blockchain, paving the way for innovative user experiences and financial inclusivity.

The post Blocks & Headlines: Today in Blockchain (BubbleMaps, Pantera Capital, Week 2025, FP Complete, FP Block, Bybit, FarmX) appeared first on News, Events, Advertising Options.

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