Blockchain
Nilos raises $5.2m to build the first platform that unifies crypto and fiat treasuries for businesses
Nilos provides the one-stop shop for businesses to connect crypto wallets, bank accounts and PSPs and manage all their treasury operations such as tracking incomes, reconcile money flows and make payments across crypto and fiat seamlessly.
The round was led by Viola Ventures, Fabric Ventures and Mensch Capital Partners. Over 20 angels also participated in the round, including: Yuval Tal (Founder at Payoneer), Sebastien Borget (Co-founder at The Sandbox), Emmanuel Schalit (Founder at Dashlane), Benjamin Seror (CPO at SimilarWeb), Didier Valet (Ex Deputy CEO at Société Générale), Guillaume Houzé (Galeries Lafayette)…
There’s a growing number of businesses that handle dual crypto/fiat treasuries simultaneously or that would not onboard to crypto because of its complexity.
The idea of dealing with two different financial systems; multiple accounts to track, volatility, compliance issues, and reconciliation problems.
Nilos was founded in 2021 by Raphael Fettaya and Eytan Messika and provides a platform that allows businesses to:
- Connect all their accounts through one single interface
- Track all their crypto and fiat transactions in one unified ledger
- Reconcile their payments
- Schedule and route effective crypto to fiat payouts (off ramp)
- Extract detailed financial/accounting reports
Nilos also takes care of the AML/compliance that lies behind it:
- Monitor incoming crypto transactions to spot suspicious source of funds
- Provide custody services to store crypto accounts
- Performs KYB onboarding
In 3 months, the team has grown to 10 people based across Israel and France and has worked with a number of NFT platforms, brands and agencies.
“I’m excited about our close collaboration with Nilos. I believe they play a key role in companies’ adaptation of web3. Their product is a perfect fit for our mission of helping owners of music rights take their first steps into the world of web3.” Sebastian Ljunberg, CTO at Anotherblock
“We are big believers in web3 infrastructure plays. The Nilos team is solving a huge gap, bridging financial and treasury services for both web2 and web3 companies who are looking to embed on-chain revenues with their fiat operations in a seamless, compliant and secure way.” Omry Ben David, General Partner at Viola Ventures
“As a business, freelancer or creator, once you have a wallet setup, it’s the easiest thing to accept payments using the blockchain payment rails, but it’s everything that comes afterwards that’s difficult. Anything to do with managing income (treasuries), storing currencies safely, exchanging these to stable currencies, using the right chain from acceptance to withdrawal, using the right exchange to offramp and doing this in a legally compliant manner with the right documentation is extremely difficult and a fragmented manual process right now. I’m really happy to be partnering with the guys at Nilos, to solve this key missing piece of financial infrastructure which will make crypto more widely accessible.” Anil Hanjsee, General Partner at Fabric.vc
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Blockchain
Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin)
Blockchain technology continues to drive innovation across industries, reshaping finance, infrastructure, and philanthropy. Today’s news roundup explores exciting developments in blockchain ETFs, tokenization funding, quantum-resistant chips, public blockchain initiatives, and impactful social projects. Here’s a deep dive into the latest blockchain headlines:
BlackRock ETF Embraces Blockchain with First Muni Bond Purchase
BlackRock’s blockchain-focused ETF has made its first foray into municipal bonds, signaling increased confidence in integrating blockchain technology with traditional finance. The ETF’s strategic investment demonstrates how blockchain can enhance transparency and efficiency in bond markets.
By tokenizing municipal bonds, BlackRock aims to simplify trading and settlement processes while reducing associated costs. This development underscores the growing role of blockchain in transforming financial instruments and fostering greater market accessibility.
Source: Yahoo Finance
Plume Secures Funding for Tokenization Platform
Blockchain fintech company Plume has raised significant funding to advance its tokenization platform. The company’s innovative approach enables businesses to convert real-world assets into digital tokens, streamlining asset management and unlocking liquidity.
Tokenization is rapidly gaining traction as a game-changer in sectors such as real estate, art, and commodities. Plume’s success reflects a broader trend of investment in blockchain solutions that bridge the gap between traditional assets and decentralized technologies.
Source: Fortune
SEALSQ and Hedera Partner for Quantum-Resistant Blockchain Chips
SEALSQ and Hedera have announced a groundbreaking collaboration to develop quantum-resistant chips designed to secure blockchain infrastructure. These advanced chips will provide robust protection against future quantum computing threats, ensuring the integrity of blockchain networks.
As quantum computing capabilities evolve, safeguarding blockchain ecosystems becomes increasingly critical. This partnership highlights the importance of proactive measures in maintaining the resilience and trustworthiness of decentralized systems.
Source: The Quantum Insider
Deutsche Bank’s Public, Permissioned Blockchain Initiative
Deutsche Bank’s Layer 2 blockchain solution is set to go public and operate as a permissioned network, according to its tech partner. This initiative aims to strike a balance between accessibility and security, leveraging blockchain to streamline financial services and enhance operational efficiency.
The decision to adopt a public, permissioned model reflects a growing trend among enterprises seeking to harness the benefits of decentralization while maintaining control over sensitive data. Deutsche Bank’s approach could serve as a blueprint for other financial institutions exploring blockchain adoption.
Source: CoinDesk
KuCoin’s “Light Up Africa” Initiative Brings Hope to Thousands
Cryptocurrency exchange KuCoin has made a significant impact through its “Light Up Africa” donation ceremony in Ghana, benefiting 36,000 children across the continent. The initiative combines blockchain technology with philanthropy to address energy poverty and support education.
By leveraging blockchain for transparency in charitable contributions, KuCoin sets an example of how the crypto industry can drive meaningful social change. The project demonstrates the potential of blockchain to empower communities and foster sustainable development.
Source: PR Newswire
Industry Implications and Key Takeaways
Today’s developments highlight the transformative potential of blockchain across multiple domains:
- Integration with Traditional Finance: BlackRock’s ETF underscores the synergy between blockchain and established financial systems.
- Tokenization Trends: Plume’s funding success reflects the growing demand for digital asset solutions.
- Quantum-Resistant Technologies: SEALSQ and Hedera’s partnership addresses emerging cybersecurity challenges.
- Enterprise Blockchain Adoption: Deutsche Bank’s public, permissioned network showcases the adaptability of blockchain in financial services.
- Social Impact: KuCoin’s philanthropic efforts illustrate blockchain’s capacity to drive positive societal outcomes.
The post Blocks & Headlines: Today in Blockchain (BlackRock, Plume, SEALSQ, Hedera, Deutsche Bank, KuCoin) appeared first on News, Events, Advertising Options.
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