French Treasury Management Startup Fipto Raises $16M Seed Round Led by Serena Ventures And Motier Ventures
We found an article on Business Insider that says French treasury management startup Fipto has raised $16 million in a seed round led by Serena Williams’ venture capital fund. The Paris-based company uses blockchain technology to speed up payments of both fiat and digital currencies.
The seed funding round was led by Serena Ventures and Motier Ventures. Fipto’s CEO and co-founder, Patrick Mollard, said that the company plans to use the funds to enhance its commercial and marketing teams as it looks to expand its offering in Europe, alongside a longer-term aim of cracking the US market. You can find more information about Fipto on their Crunchbase profile.
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Blockchain technology is a distributed ledger system that allows for secure, transparent, and tamper-proof transactions. It can help in payments by reducing the cost and time of cross-border payments, making them more efficient, affordable, and accessible.
Blockchain technology can also facilitate fast, secure, low-cost international payment processing services through the use of encrypted distributed ledgers that provide trusted real-time verification of transactions without the need for intermediaries such as correspondent banks and clearing houses.
Blockchain payment systems process, verify, and enforce transactions using blockchain technology. They facilitate fast, secure, low-cost, and transparent payment processing services without the need for the involvement of financial institutions. Fipto, the French treasury management startup that raised $16 million in a seed round led by Serena Ventures and Motier Ventures, uses blockchain technology to speed up payments of both fiat and digital currencies.
How does blockchain technology ensure security in payments?
Blockchain technology ensures security in payments by providing a tamper-resistant ledger system that is based on principles of cryptography, decentralization, and consensus. Transactions are validated and agreed upon by a consensus mechanism, ensuring that each transaction is true and correct.
