arq

According to Bloomberg, the Latin American financial app ARQ, focused on stablecoins, has completed a $70 million financing round, with participation from Sequoia Capital and Founders Fund.This round of financing will be used for rebranding, hiring new employees, and expanding services beyond dollar-denominated transfers, including wealth management, local currency high-yield accounts, and credit services. ARQ, formerly known as DolarApp, offers multi-currency accounts, digital wallets, foreign exchange, and debit card services, helping users store and transfer funds across borders. It has over 2 million customers in Latin America, with an annual transaction volume exceeding $10 billion. ARQ stated that it has built infrastructure connecting traditional banking networks and stablecoin-based payment systems, enabling users to hold foreign currency and conduct transactions.

ChainCatcher news, according to Bloomberg, digital asset broker FalconX has acquired a majority stake in the parent company of multi-strategy crypto hedge fund Monarq Asset Management, aiming to expand its asset management services.The terms of the deal were not disclosed. Austin Reed, FalconX's Head of Global Revenue and Business, based in San Mateo, California, stated that this investment provides the company with the opportunity to expand its institutional client base from hedge funds, proprietary trading firms, and asset management institutions to a broader range.

ChainCatcher news, according to Digital Journal, blockchain-as-a-service (BaaS) startup Sparq Labs announced the launch of a $18 million Series A funding round, just six months after the company completed a $680,000 seed funding round. The new funds will be used to accelerate the development of the cross-chain mesh SparqNet Gateway.It is reported that SparqNet is an SDK toolchain that acts as a protocol, allowing users to build scalable blockchain infrastructure using C++ without relying on any VM. (source link)

ChainCatcher news, Sparq Labs Inc., the company behind the blockchain infrastructure, SDK toolchain, and services of SparqNet, announced the completion of a $680,000 seed round financing, with specific investor information currently undisclosed.It is reported that SparqNet primarily provides tools and services for blockchain networks and supports distributed blockchain bridging capabilities through infrastructure supported by Avalanche, allowing programming in any language. The company plans to leverage acceleration technology to develop and promote the launch of a testnet in the fourth quarter of this year, expanding potential use cases such as decentralized email, arbitrage bots, and supply chain management. (Source link)