Bitcoin, Crypto currency, Blockchain

Goldman Sachs invests in Blockchain platform

f2e80caefee521cd68bcf70df3e692b5 - Goldman Sachs invests in Blockchain platform

Goldman Sachs has invested in Veem. The banking giant is promoting the Blockchain-payment service provider, has written nothing Less the cause than the SWIFT, Standard to attack. Other high-profile investors seem to believe in the Vision of the company.

Goldman Sachs is increasingly recognizing the opportunities presented by the Blockchain technology. Although the banking giant and some of its representatives in the past has expressed anything other than positive about Bitcoin and other crypto-currencies. Nevertheless, The underlying Blockchain technology is drawing closer and close into the consciousness of the New York company. For now, Goldman Sachs has invested in a Blockchain-companies, the want of the current money as a new payment service providers up.

Veem wants to attack SWIFT

Veems project is, in fact, no less than to transform “global payment space,” so the Blockchain-the company writes on its website. For this, they are now working on a new payment platform, designed to replace the SWIFT System. This is a “40-year-old technology, the occupied small business constantly with fees, payments, loses, and [lacking] transparency.”

These defects confront, wants to offer the Veem-platform a solution:

“Our Multi-Rail payment platform promises speed, security and fees as low as possible. For this, we find for each payment is the optimal way.“

For this, the company has collected from well-known investors money. According to the official data, they completed the final Funding total, with a whopping 25 million US dollars. In the front of on the list of Investors: Bank giant Goldman Sachs. Among the other investors in GM (originally Google Ventures), Silicon Valley Bank, Extol Capital, Trend-Forward Capital, Kleiner Perkins, and Pantera Capital.

Goldman Sachs as a key Partner

The company can look back on an expansive growth. After the second funding round, which was completed in March 2017, was able to show off the company with 18,000 users. After round A, there were only 590. According to Veem includes after the third round, in the meantime, a total of 80,000 companies in 96 countries.

The partnership with Goldman Sachs will provide the company with further growth. CEO Marwan Forzley said:

“We are delighted that Goldman Sachs has led the investor round. This support will help us to enlarge our footprint to expand our Distribution and other important partnerships.“

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