Mobile banking app developer Dave has announced a partnership with the owner and operator of the FTX.US cryptocurrency exchange, West Realm Shires Services.
Dave has raised a $100 million investment from FTX Ventures. According to the statement, the funds will be used to promote strategic initiatives related to cryptocurrencies, in particular, to expand the ecosystem of digital assets and ways to implement crypto-currency payments on the Dave platform.
“This is an important milestone for our company, Dave’s shareholders and users. We believe that blockchain can level the financial playing field around the world. By partnering with FTX.US, we can enter the digital asset arena, explore new growth opportunities, and improve the customer experience,” said Dave CEO Jason Wilk.
The Dave mobile banking application is actively used by about 10 million users. It provides customers with the ability to budget, obtain a loan and calculate the credit load, as well as cash withdrawal services. FTX.US President Brett Harrison commented on the deal:
“We are committed to partnering with companies that share our vision, have unique business models, and can drive the widespread adoption of digital assets. Dave is a great fit and meets all of our requirements. We see significant growth opportunities for both our companies.”
Recall that PayPal added support for cryptocurrencies for US users back in October 2020. Since August 2021, PayPal-owned mobile payment service Venmo has added the ability for credit card holders to convert their monthly cashback into BTC, ETH, LTC, or BCH.
Source: Bits
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