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
Blockchain
Digital Payment Gateway Market Industry Trends and Opportunities 2030, with Competitor Analysis for PayPal, Stripe, Adyen, Worldpay, Razorpay Software, Mollie, BlueSnap, Klarna Bank and Dwolla
Digital Payment Gateway Market
Blockchain
Humanity Protocol Collaborates with OKX Wallet to Redefine Decentralized Identity Verification and Reward Users
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Blockchain
Blocks & Headlines: Today in Blockchain (BRICS, Hungri Games, Nano Labs, MetaHorse Unity)
Building Customer Trust in AI with Blockchain
Blockchain is emerging as a critical tool in addressing the trust deficit in artificial intelligence. By leveraging decentralized ledgers, companies can provide transparent data provenance, ensuring that AI algorithms operate ethically and without bias. This integration allows customers to verify the origins of data used in AI models, fostering greater confidence.
Businesses deploying blockchain for AI governance must prioritize simplicity and accessibility in their implementations. While the technology’s potential is immense, it is essential to communicate its benefits in a manner that resonates with non-technical stakeholders.
Source: Harvard Business Review
Blockchain at a Crossroads: Balancing Promise and Peril
As blockchain technology matures, it finds itself at a crossroads. On one side, the promise of decentralization continues to captivate industries, offering solutions for supply chain management, finance, and digital identity. On the other, challenges such as regulatory scrutiny, scalability issues, and energy consumption threaten to impede its growth.
The path forward will require a concerted effort from developers, regulators, and industry leaders. Collaborative frameworks that address these challenges while preserving blockchain’s core principles of decentralization and transparency are key to ensuring its sustained relevance.
Source: Cointelegraph
BRICS vs. USD: Blockchain’s Role in Economic Shifts
The BRICS nations (Brazil, Russia, India, China, and South Africa) are exploring blockchain-based solutions to reduce their reliance on the US dollar in international trade. By adopting decentralized technologies, these nations aim to foster economic independence and promote stability in the face of geopolitical tensions.
This initiative exemplifies blockchain’s potential to redefine global financial systems. However, its success hinges on addressing interoperability issues and fostering international collaboration. The evolution of blockchain-based trade networks could mark the beginning of a new era in economic diplomacy.
Source: CoinGeek
Hungri Games Expands MetaHorse Unity to Base Blockchain
Hungri Games has announced the expansion of its MetaHorse Unity project to the Base blockchain, aiming to enhance the gaming experience with improved scalability and lower transaction costs. This move aligns with the growing trend of integrating blockchain into gaming to create transparent and secure ecosystems.
By adopting Base, a layer-2 blockchain, MetaHorse Unity seeks to offer players a seamless and cost-effective gaming experience. The partnership highlights the potential of blockchain to transform the gaming industry, enabling innovative monetization models and fostering player engagement.
Source: CoinTrust
Nano Labs Purchases Trump Tokens to Celebrate Presidency
Nano Labs commemorated former President Donald Trump’s legacy with the acquisition of 47 Trump Tokens. This symbolic gesture underscores the intersection of blockchain technology and cultural milestones, showcasing how tokens can represent historical and social narratives.
The purchase also highlights the increasing role of blockchain in creating unique, tradable assets that capture moments in time. As tokenization continues to gain traction, it is redefining how value and significance are assigned in the digital age.
Source: PRNewswire
Final Thoughts: Blockchain’s Expanding Horizons
This week’s developments highlight the diverse applications of blockchain technology, from fostering trust in AI to reshaping global economic systems. As the industry navigates challenges and opportunities, collaboration and innovation will be crucial in unlocking blockchain’s full potential.
While hurdles such as scalability and regulation persist, the technology’s ability to drive transparency, security, and inclusivity remains unparalleled. The coming years will undoubtedly see blockchain continue to evolve, solidifying its role as a transformative force across sectors.
The post Blocks & Headlines: Today in Blockchain (BRICS, Hungri Games, Nano Labs, MetaHorse Unity) appeared first on News, Events, Advertising Options.
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