Bitcoin Daily: Flexa Enables Crypto Acceptance For Online Retail; Talos Lands $40 Million In Series A; Bank Of Korea Warns Of Leveraged Crypto Trading’s Possible Financial Impact
Payment network provider Flexa has grown its crypto acceptance service to encompass different plug-ins that let retailers take crypto through their eCommerce retail channels instantly, according to an press release. “We’ve dramatically expanded the reach of Flexa-powered payments, enabling instant, affordable payment acceptance for virtually any merchant with an online storefront,” Flexa Co-Founder and CEO Tyler Spalding said in the release. Following the rollout of Flexa more than two years ago as “the first ever digital currency payment option” for physical retail, Spalding said, the firm has grown to support over 41,000 merchant locations throughout the United States.
In other news, the governor of the Bank of Korea said the practice of people in South Korea borrowing money to trade digital currency could pose potential harm to the financial system of the country, The Korea Herald reported. “An excessive level of leveraged cryptocurrency trading puts households at risk of financial damages considering the instability of [digital currency],” Bank of Korea Governor Lee Ju-yeol said to journalists, as per the news outlet. He promised to keep a close eye on the monetary transactions of Korean financial institutions connected with practice.
And Talos, which equips institutions with technology for digital asset trading, wrapped up an Andreessen Horowitz-led $40 million Series A round, according to a Thursday (May 27) press release. PayPal Ventures, Fidelity Investments, Elefund, Galaxy Digital, STEADFAST Capital Ventures and Illuminate Financial also invested and early-stage backers took part as well. “By partnering with some of the most prominent players in the global financial markets, we can realize our goal of providing the fabric for institutional trading of digital assets around the world,” Talos Co-Founder and CEO Anton Katz said in the press release, which says the firm’s client base covers the full digital asset ecosystem ranging from financial service providers to buy-side institutions.