GumGum, a contextual-first global digital advertising platform, announced a partnership with OTT streaming service provider Invincible Entertainment, signaling a unique collaboration aimed at delivering a new caliber of ad experiences in the fast-moving CTV space. The partnership will combine GumGum’s In-Video product with Invincible’s vast catalog of CTV inventory across its O&O FAST Networks and flagship streaming television platform Galxy TV, allowing opportunities to maximize video revenue with an innovative and user-friendly solution.

GumGum’s In-Video ad unit is activated via its proprietary SSAI (server-side ad insertion) software purpose-built for overlaying ad creatives into the content of VOD and FAST streams. This allows brands to capitalize on a new generation of CTV viewers in a non-intrusive setting; users can keep watching their show while an ad appears in a corner of the screen with messaging that is creatively woven into the video content that they’re consuming.

“GumGum is thrilled to work alongside Invincible to improve their users’ viewing experience without sacrificing monetization by reducing the amount of traditional ad breaks—rather we replace them with overlay ads,” says Ken Weiner, Chief Technology Officer at GumGum. “Our tech contextually analyzes scheduled ad avails and our ad server then chooses suitable advertisements for the user at that moment in time to be placed across Invincible’s genre-spanning CTV content.”

As demand for CTV continues to spike across all major ad markets, non-interruptive experiences are likely to play a leading role in future video strategy for advertisers and streamers alike. Historically, livestream advertising has been problematic for the ad ecosystem because of the risk of interrupting vital broadcast moments (for example, a goal in a sports match), but overlay ads bypass this issue, while maximizing brand compatibility in real-time.

“Our new integration with GumGum has the potential to transform how advertisers reach audiences in streaming environments. GumGum’s lower third ads have been so successful that we have been using them exclusively on our ad supported VOD titles resulting in a marked decrease in drop offs during ad breaks and a vastly improved viewing experience for our users,” says Thomas Ashley, CEO at Invincible Entertainment. “Streamers now have the opportunity to build revenue around valuable inventory in AVOD CTV in a robust and meaningful way, and this partnership makes it possible to deliver free ad supported programming to our users uninterrupted. CTV monetization can be rapidly, contextually, and creatively scaled and the user experience is second to none. It’s a win-win.”

GumGum launched its In-Video ad unit in March of last year. This ad solution is available to streaming platforms and streamers like Invincible, and inventory is offered to agencies and advertisers in a beta program.

For more information, please reach out to

About GumGum
GumGum is a contextual-first global digital advertising platform that captures people’s attention, without the use of personal data. We believe that an advertising ecosystem based on understanding a consumer’s active frame of mind rather than behavior builds a more equitable and safer future for consumers, publishers, and advertisers alike. Founded in 2008, GumGum is headquartered in Santa Monica, California and operates in 19 markets worldwide. For more information, please visit

About Invincible Entertainment
Invincible leads the new wave of independent film production and distribution. Invincible is an industry pioneer in OTT streaming technology and distribution having built some of the earliest streaming services and the technology that powers them over a decade ago. Today Invincible operates multiple SVOD platforms and linear FAST TV Networks, spanning multiple genres. Invincible’s flagship streaming television service Galxy TV, is the first streaming service to pay its users to watch movies and TV. Invincible’s vast catalog of content includes popular animation brands, television and award winning festival films that we distribute on a global platform.

HUNTINGDON VALLEY, PENN., USA, February 17, 2022

After unwinding the acquisition of Pixel Health, Liberty Fox CEO, Bill Evans, brings more firepower to his leadership team with an eye on the future.  Liberty Fox, a software development and consultancy firm  outside of Philadelphia, is expanding its leadership team to increase growth and offer a broader range of services.

Leon Degtar will serve as the company’s COO, and Anthony Mongeluzo, CEO of PCS, will join as an official adviser and investor.

Liberty Fox focuses on building and customizing the applications people use to run their businesses. It achieves this through integrating disparate applications, expanding existing functionality or creating new software entirely from scratch.

“While we have the sophisticated resources and expertise in handling an array of IT problems, our specialty is being creative,” said Bill Evans, CEO. “Our goal is to truly tailor the software tools to the business’s needs while removing bottlenecks and maximizing productivity. With our enhanced leadership team, we anticipate continued growth and success in the various markets that we serve.”

Leon Degtar’s elevated role in the company comes on the heels of extensive experience in scaling digital agency operations and organizational dynamics.
Degtar, a CPA, says: “Having supported Liberty Fox’s growth in a consulting capacity over the past few years, I am beyond thrilled to join this talented team’s leadership. We provide a much needed service enabling practical technology solutions to solve complex business challenges while having fun doing it.”

Anthony Mongeluzo, CEO of Moorestown-based PCS, an IT firm with a national footprint, has more than 20 years of experience directing technology companies. Mongeluzo employs more than 250 employees among his companies and intends to leverage his expertise to accelerate Liberty Fox’s growth.

Liberty Fox has recently unwound from a previous merger with Pixel Health in the wake of expanding its executive team.

Liberty Fox’s client list includes: Pentec Health, Invincible Entertainment, WellSky, Thomas Jefferson University and Temple University Health System.

Bill Evans started Liberty Fox in 2010. After graduating from LaSalle University with dual majors in Computer Science and Telecommunications and a sudden job layoff during the market collapse, he created Liberty Fox. Evans combined his technical expertise with an entrepreneurial streak and a penchant for understanding IT issues and explaining them in plain English.

In four different years, local media has identified Liberty Fox as a top 40 fast-growth company in the Philadelphia region.

For more information, contact: 215-821-9118, and

SYDNEYJan. 27, 2022 /PRNewswire/ — Chrono.Tech — an Australian blockchain software company — has attracted over $30 million in investment funds to grow its HR-focused solutions aimed at solving a number of problems in the recruitment industry using blockchain technology. The funding round was led by Australian venture capitalist Mark Carnegie and a leading  European Family Office.

As a professional venture capitalist with over 30 years’ experience as an entrepreneur, investor and corporate adviser in New YorkLondon and SydneyMark Carnegie has previously worked with Chrono.Tech founder Sergei Sergienko, co-founding the Crypto Gaming United startup and two digital assets managed investment funds.

“Given that Mark Carnegie is both a well-respected and successful asset manager and venture capitalist, and someone who has recognised the potential of blockchain technology, it’s very encouraging that he has given Chrono.Tech his vote of confidence through his investment in the company,” as Sergei Sergienko, Chrono.Tech founder and CEO, commented on the investment round. “Along with the European investment, it’s validation from the mainstream financial world of the work we’ve been doing for the past five years, and a strong signal that we’re on the right track for further growth in the months and years to come.”

MH Carnegie & Co has over a billion dollars under management and has recently expanded its activities into the decentralized space with the launch of MHC Digital Asset Fund aimed at blockchain-based technology companies.

“Crypto assets can be highly complex and obscure, and operate on a very different paradigm to the centralized financial sector — not least in terms of secure storage,” as Mark Carnegie noted the investment in Chrono.Tech. “Sergei has a strong network in the crypto community and extensive experience in identifying crypto initiatives that provide an excellent balance of risk and return, making him a natural addition to the team.”

The funds invested in Chrono.Tech during the latest round will be used for scaling and developing the lineup of services and products the company offers in the HR and crypto payroll sectors, as well as its latest directions in workforce management. The company offers a range of tailored products that assist companies in setting up convenient payment gateways in cryptocurrencies and help them find freelancers willing to accept digital currencies as a means of payment. New modules and extensions will be launched to allow users to access the full scope of services and make interactions on the platform both easier and safer.

About Chrono.Tech

Founded in 2016, Chrono.Tech is Australia’s oldest blockchain business that is engaged in building a suite of software solutions aimed at the HR and recruitment sector. The company is currently developing LaborX — its flagship product that acts as a contract-powered freelancer platform enabling anyone around the world to interact on a peer-to-peer basis and receive payments in cryptocurrencies. LaborX has seen its user base grow by over 42,000 freelancers and almost 5,000 customers in light of surging demand for digital currency markets.

Chrono.Tech’s product lineup also includes TimeX — a secure digital asset trading platform that has already managed to gain a foothold in the top 100 exchanges by trading volume. The company is also engaged in decentralized gaming, promoting the Crypto Gaming United (CGU) product based on the newfangled Play-to-Earn model. Co-founded by Mark Carnegie, CGU raised over $17 million in October of last year.

All products within the Chrono ecosystem are powered by the internal TIME token, which gives users access to premium services and can be staked using the TimeWarp application. 2021 saw a 200-time price increase of the TIME token.

For more information, please, visit


SOURCE Chrono.Tech

RIYADH, Saudi ArabiaFeb. 1, 2022 /PRNewswire/ — Retailo, the fastest growing startup in Middle EastNorth Africa, and Pakistan (MENAP) which is digitizing the region’s retail supply chains, has raised $36 million in its Series A investment round which was a mix of equity and venture debt. Retailo is a regional B2B marketplace in MENAP and has raised a total investment of $45 million in less than 1.5 years of operations, a landmark for any startup in the region.

Retailo’s Series A round has attracted leading investors with proven track records of impactful investments. The round was led by Silicon Valley based Graphene Ventures which was an investor of tech giants Snapchat and Lyft.

For Retailo’s Series A, Graphene is joined by leading investors that include 500 Global, Agility, Aujan, Tech Invest Com and Mentor’s Fund, all of which have the relevant exposure and investments in the retail industry’s technology companies. The venture debt was raised from Nahda Fund – one of the Middle East’s first venture debt funds which is backed by IMM Investment Global, based in Hong Kong. Additionally, Shorooq Partners, Abercross Holdings, Arzan VC, AgFunder also participated in the round as repeat investors which demonstrates their continuing belief in Retailo’s successful future.

Retail in MENAP is a $500 billion industry which consists of over 10 million small businesses to serve a population of more than 700 million consumers. However, the majority of this retail industry is informal and undigitized. Small businesses have to rely on inefficient supply chains and limited financial resources while operating on impossible margins. Retailo aims to champion these small business owners by building a suite of technologies around them. The company has begun this via their B2B community commerce platform which is used by over 50,000 retailers monthly.

On Retailo’s mobile platform, small businesses can find a wide catalogue of over 5,000 SKUs which are delivered to their doorstep in less than 24 hours. They can also avail Buy-now-pay-later (BNPL) services, which give them flexible payment options and credit lines. By providing timely supply, competitive rates, and easy credit, Retailo is able to address the needs of retailers and significantly improve their business.

To offer a one-stop shop solution, Retailo ( directly works with hundreds of leading local, regional and global brands. Retailo also optimizes end-to-end logistics in the supply chain via efficient warehousing operations and smart fleet management solutions. Leveraging its wide regional presence, Retailo has recently begun offering its sellers a cross-border distribution platform across the three biggest markets in the region: KSA, UAE and Pakistan. Retailo also provides data analytics services to sellers to help them evaluate sales performance and consumption trends.

Headquartered in Riyadh, Retailo was founded by former Careem executives Talha AnsariWahaj Ahmed and Mohammad Nowkhaiz in July 2020 with a unique regional launch. Growth has been quick and in only 18 months Retailo has scaled to 10+ cities in 3 countries: KSA, UAE and Pakistan. “The multi-market strategy from day one was unconventional and challenging. Covid made it even more so. But now Retailo is a scalable organization with hundreds of millions of dollars in annualized revenue and colleagues from multiple nationalities and diverse backgrounds who have left leading institutions like Amazon, Delivery Hero and Goldman Sachs to fulfil Retailo mission in building technology that empowers 10 million retailers in the region,” said Himag Vaidya, Retailo’s Head of Strategy.

Nabil A. Borhanu, partner at Graphene Ventures said, “We are impressed with what Retailo has achieved in an astonishingly short time. Their vision is both ambitious and inspiring and we believe that partnering with them is a sound business investment and also a chance to truly improve the lives of millions of people.”

The Series A funding will help Retailo move into the next phase of expansion into new geographies, verticals and products. “As global supply chains come under stress pushing up commodity prices and depressing GDP growth, the value of smart supply chains becomes even more important,” said Retailo’s CEO Talha Ansari. “The retail sector serves 700 million persons in MENAP, contributes almost 20% to the GDP and employs tens of millions. By providing technology solutions to this underserved market, we are not only improving lives but also uplifting the economy of the entire MENAP region.”

For further information, please contact:
Sibtain Naqvi
Director Strategic Communications
Retailo Technologies


SOURCE Retailo

LONDONFeb. 10, 2022 /PRNewswire/ — Recruitment and onboarding SaaS platform Manatal today announced they have closed US$5.1 million in seed funding from Sequoia India’s Surge alongside angel investors. This funding round comes as the company is quickly scaling. They have placed close to 100,000 people in jobs since 2019 and are used in over 130 countries. Revenues have grown 3x every year. The fresh funds will be channeled into engineering as the startup looks to enhance their product offering and AI-recommendation engine in the following months.

Thousands of SMEs, tech companies and startups have joined Manatal as it aims to become the leading recruitment platform for millions of SMEs while ensuring the highest security and confidentiality with user data.

According to a case study by McKinsey & Company, companies can realise a 40 percent increase in the quality of hires and a 12 percent decrease in first year attrition after they become more thoughtful and data-driven about hiring. As the war for talent continues to intensify amidst changing employee expectations and an increasingly borderless world, companies are also looking for simplified technology-based platforms to enhance their candidate experience.

Manatal’s simplicity helps recruiters leverage the latest technologies to streamline their recruitment flow from the sourcing to the onboarding. With Manatal, SMEs around the globe can combat challenges around talent recruitment and reach their hiring goals in a more affordable way than offered by the various enterprise recruitment solutions in the market.

“Manatal was designed to hire faster and better in a world where getting the best talents is critical for any company’s success. With Manatal, companies can now match the perfect fit for positions they are recruiting for in minutes. We’re proud of the success the platform has seen and are looking forward to further expanding our global reach,” shared CEO of Manatal, Jeremy Fichet.

Manatal was founded in January 2019 by Jeremy Fichet (French) and Yassine Bel Mamoun (Moroccan) in Bangkok, Thailand. Jeremy has held senior positions in companies like Cdiscount and Groupon for over 15 years. Yassine has worked as an IT Consultant at Agility Factory, Data Scientist at Orami and as a Quantitative Research Analyst at BNP Paribas.

About Manatal

Manatal is a Bangkok-based end-to-end recruitment and onboarding SaaS platform on a mission to transform how the world recruits.

Photo –

Bilal Mahmood 
+44 (0)7714 007257

SOURCE Manatal

LOS ANGELESFeb. 10, 2022 /PRNewswire-HISPANIC PR WIRE/ — OpenNode, an industry-leading bitcoin payment processor and infrastructure provider, announces the close of an oversubscribed $20M Series A raise at a $220M valuation led by UK-based firm Kingsway and with additional investment from Twitter, Tim Draper, and Avon Ventures, a venture capital fund affiliated with the parent company of Fidelity Investments.

Josh Held, new Head of Strategy at OpenNode, said, “OpenNode has believed in the promise of Bitcoin and Lightning-powered payments for a long time, and demand is now growing exponentially. For the last two years, the team has been heads down building solutions that support some of the largest brands and businesses in the world today. This Series A funding is the next step in helping the company to realize our mission of making bitcoin payments simple and accessible for everyone, everywhere”

Vocal Bitcoin supporter and renowned venture investor Tim Draper shares his enthusiasm for the OpenNode solution, saying “OpenNode allows the retailer to accept bitcoin without having to pay the banks or the credit card companies the 2-4%. OpenNode can do it with only a fraction of the energy cost required for an on-chain bitcoin transaction.”

OpenNode’s newest addition to the cap table was Twitter, where Ester Crawford, Group Product Manager, says, “Digital currencies encourage more people globally to participate in the economy, and with less friction. OpenNode is creating easier pathways for anyone, anywhere to access the digital economy through their seamless integration of bitcoin payments.”

Manuel Stotz, Founder of Kingsway Capital, the lead investor of OpenNode’s Series A, conveyed, “Bitcoin, complemented by the Lightning Network, is going to be the most important technology for financial inclusion. We are very excited by OpenNode’s deployment of the Lightning Network to make the promise of bitcoin as a global, censorship resistant and permissionless payment network a reality.”

Sachin Patodia, Managing Director at Fidelity Investments, said, “OpenNode provides businesses, platforms, and people the easiest onramp into the burgeoning digital economy, enabling seamless integration of bitcoin across the payment stack. We are proud to participate in this funding round and contribute to the growth of OpenNode and the Bitcoin network.”

OpenNode is focused on building Bitcoin and Lightning Network payments infrastructure that will catalyze Bitcoin’s global adoption. OpenNode is ready to onboard every business, platform and person looking for secure, instantly settled payments that operate globally, 24/7

Read more about OpenNode’s plans for the future here.

For media inquiries, please contact Phil LeRoy at (310) 260-7901 or phil(at)melrosepr(dot)com.

About OpenNode
Founded in 2018, OpenNode is the world’s leading bitcoin payment processor and infrastructure provider, connecting the world with revolutionary payment technology. OpenNode provides secure, reliable bitcoin payment acceptance and payout solutions for businesses, platforms, and people everywhere. From payment buttons to hosted checkout, and e-commerce plug-ins to optimized APIs, OpenNode offers the benefits of instant, lowest cost payments made possible by Bitcoin, the world’s best decentralized payment network; and the Lightning Network, Bitcoin’s leading scaling solution.

Photo –


SAN FRANCISCOFeb. 9, 2022 /PRNewswire/ — Spirits and technology startup Endless West today announced it has raised $60 million in Series C funding led by Level One Fund and funds managed by UBS O’Connor, bringing its total investment to date to $95MM. Endless West’s latest round follows a string of large funding rounds in the rapidly-growing Food Technology space.

Founded in 2015 by scientists Alec Lee and Mardonn Chua, Endless West uses a revolutionary, technology-driven process to create molecular spirits. Its products have dramatically-improved sustainability and scalability to mitigate many of the industry’s supply chain challenges. Endless West is the first company to launch this technology in spirits, identifying key flavor and aroma molecules (or notes), then extracting them for use from more efficient sources in nature — including plants, fruits and yeasts. The brand’s products have already won 39 medals in wine and spirits competitions, including most recently a Gold Medal with 91 Points in the 2021 London Spirits Competition for Glyph Spice, a successor to Glyph Original which launched in 2018. Glyph Spice was awarded the 5th highest score in the whiskey category of all whiskeys submitted this year out of over 130 that qualified for an award.

Endless West’s most recent funding brings the company to $95MM in equity financing, and will be used primarily to launch its newest B2B platform, Blank Collective, domestically and internationally. Blank Collective offers creative, product development, and production services for partners looking to launch their own new brands or to improve margins, ingredient quality, and scalability of existing brands. Through Blank Collective, Endless West makes its molecular process available to external parties for the first time, so partners no longer have to make difficult trade-offs between the price, quality, and availability of the spirits available for their brands. Blank Collective can help launch a new product in a matter of weeks, and can reformulate existing products in a matter of months to match or improve on the quality at a greatly reduced price of the original ingredient spirits.

“Since we founded the company we’ve been pushing the boundaries of what people thought was possible in the wine and spirits industry,” says Alec Lee, Co-Founder & CEO of Endless West.  “I’m thrilled to announce this next round of funding that will help us take our incredible technology to the world and make it available for others looking to create their own great products.”

“This funding round accelerates Endless West’s mission to become the alcohol industry’s leading supply hub, and further supports the company’s molecular production process in its role as an inevitable technology that is already yielding impressive cost, speed, and environmental benefits for a $1.5T global market.” said James Stewart, Partner at Level One Fund.

Endless West’s products can be found in major bars and restaurants across the U.S., and at

About Endless West
Endless West is a beverage technology startup using scientific methods to create its own blend of spirits. Its first product, Glyph, is the first spirit to be made ‘note by note’ using pure molecules (or flavor and aroma notes) extracted from more efficient sources in nature. Unlike conventional spirits, Glyph is made without traditional inputs like aging or barreling — which means significantly less wood, water and land is used in its production process. Founded in 2015 by Alec Lee and Mardonn Chua, the company is headquartered in San Francisco and has raised $95 million in total funding to date. For more information, visit

Endless West also offers bespoke alcohol solutions, lightning fast, through its one-stop shop commercial alcohol producer Blank Collective. Using cutting-edge technology, Blank Collective manufactures private label alcoholic beverages, bulk spirits, and alcoholic concentrates, in addition to a full-suite of branding, product development, and manufacturing services to customers seeking to launch their own spirits brands.

SOURCE Endless West

ORANGE COUNTY, Calif.Feb. 8, 2022 /PRNewswire/ — Happy Money, a leading platform for unsecured lending in partnership with credit unions, today announced it has closed a Series D-1 capital raise to accelerate its growth and empower more people to use money as a tool for happiness. The $50 million of capital from investors including Anthemis Group and CMFG Ventures recognizes the company’s success as it joins the ranks of fintech unicorns with a pre-money valuation of $1.1 billion. The rapidly-growing fintech company develops financial tools with members’ best interests at heart, including its award-winning Payoff Loan, which helps members consolidate and pay off credit card debt and experience less financial stress.

LOS ANGELESFeb. 8, 2022 /PRNewswire/ — Swoogo, a fast-growing event management software company, today announced a $20 million growth investment led by Bain Capital.  The new funding will accelerate Swoogo’s rapid expansion into a full-scale enterprise platform for event management, as well as solidify its competitive offering in the hybrid and virtual event space.

“We are excited to partner with Swoogo at a critical juncture in the company’s evolution and the event management software market more broadly,” said David Healey, a Vice President at Bain Capital. “We believe Swoogo’s differentiated SaaS capabilities, industry pedigree, and driven team position the company well for accelerated growth.” As part of the transaction, David Healey will be joining Swoogo’s board.

Founded in 2015 by event technology veterans Leonora ValvoTim Cummins, and Neil Keefe, Swoogo’s platform simplifies the overwhelming complexity of corporate event management at scale. Now under the leadership of CEO Christopher Sykes, who acquired a majority ownership stake in March 2020 backed by Eagle Rock Capital, Swoogo has nearly tripled its recurring revenues in the past two years. With expanded offerings that continue to embrace the ethos of ease-of-use, Swoogo’s enterprise client portfolio has also grown rapidly, with businesses including Atlassian, Box, and DocuSign using Swoogo to manage their events.

“Swoogo has been a true partner to us as we’ve scaled our event portfolio and hosted industry-leading digital events, and as we plan for our upcoming flagship event, Team ’22— to be held as a hybrid event in Las Vegas,” said Blane Barker, Senior Team Lead for Event Marketing & Technology at Atlassian. “We appreciate Swoogo’s flexibility, customization, ease of use, and the support we receive from the Swoogo team.”

With the current product earning reviews like “the best business decision you can make as an event prof [G2],”  the Swoogo team is looking forward to enabling event marketers to further simplify their workflows through significant feature expansion over the next 18-months.

“It’s a new era for events,” said Sykes. “As a result of COVID and the industry’s rapid pivot to virtual events, we’ve seen decades of development compressed into months. Event marketers have come to expect more from their event technology and event output: more data, more insights, more customization, and more seamless integrations with their martech stack. With Bain Capital’s support, we look forward to bringing the same rich insights we’ve unlocked for virtual events to in-person and hybrid events. Most importantly, we remain committed to our mission of empowering anyone to bring people together, while delivering best-in-class service that puts event organizers first.”

About Swoogo
Brought to market in 2015 by event tech veterans Leonora ValvoTim Cummins, and Neil Keefe, Swoogo’s second-generation event management platform upended a dated industry with its easy-to-use functionality and world-class support that puts event organizers first. With firsthand experience in the complexity of legacy products in the space, the Swoogo platform is designed to make event management workflows simple and intuitive for teams of one to one thousand.

With Swoogo’s best-in-class registration product, marketers are enabled to easily collect clean, robust, segmented audience information with unlimited attendee types and conditional logic. Combined with in-platform event and attendee analytics, Swoogo’s Attendee Intelligence platform reinforces the value of events for personalized marketing and demand generation. At a Swoogo event, attendees enjoy personalized agendas and Event Hub pages, 1:1 networking, online expo areas, and embedded content together within-person event features like hotel management and event and session check-in with Swoogo Live. Learn more

About Bain Capital
Bain Capital, LP is one of the world’s leading private multi-asset alternative investment firms that creates lasting impact for our investors, teams, businesses, and the communities in which we live. Bain Capital’s dedicated Private Credit Group focuses on direct lending opportunities across the capital structure to companies globally with EBITDA ranging from $10 million to $150 million. Our dedicated global team affords us the ability to diligence the most complex situations and provide private capital to those companies. Since our founding in 1984, we’ve applied our insight and experience to organically expand into numerous asset classes including private equity, credit, public equity, venture capital, real estate and other strategic areas of focus. The firm has offices on four continents, more than 1,200 employees and approximately $150 billion in assets under management. To learn more, visit


The stockbroking company DriveWealth was introduced to the cryptocurrency industry by launching two subsidiaries that aim to offer their cryptocurrency trading partners to retail investors. DriveWealth is a New Jersey-based company backed by Japanese technology giant Softbank with a value of $2.85 billion.

Coinbase is the largest crypto exchange based in the USA and pays up to 4.5% of the transaction amount and a distribution fee on its platform. The exchange generated 88% of the total $1.2 billion in total transaction cost revenue in the third quarter, according to the financial report for the period.

New cryptocurrency offerings are made possible by the recent acquisition of DriveWealth’s Crypto Systems, a stand-alone crypto startup. With this acquisition, DriveWealth has launched its subsidiary DriveLiquidity, which will provide liquidity to partners looking to invest and sell cryptocurrencies.

DriveWealth also launched DriveDigital as a subsidiary crypto exchange. It plans to give its partners access to an API (application programming interface) to allow investors detailed transactions in bitcoins (BTC) and Etherium (ETH).

DriveWealth CEO, Bob Cortright, was quoted saying, “As regulatory environments tighten around crypto and customers get more focused on spreads and efficiency, we can’t continue in a world where you can charge 200 basis points on a transaction.”

Coinbase (COIN) has a $39 billion market cap with an enterprise valuation of about $36.5 billion.