PayPal Invests in Digital Identity-Focused Blockchain Startup in Apparent First
Global online payments firm PayPal has invested in startup Cambridge Blockchain, a firm that focuses on leveraging the tech in order to give users more control over their digital identities. The investment, whose amount is undisclosed, is part of an extension to a Series A funding round that had raised an initial $7 million in May 2018. The United States Securities and Exchange Commission (SEC) has stated that Cambridge Blockchain raised a total of $3.5 million in new equity since May 2018. Cambridge Blockchain has notably joined major players such as Microsoft (NASDAQ:MSFT), IBM (NYSE:IBM), Mastercard (NYSE:MA), and Accenture (NYSE:ACN) to collaborate under the canopy of a non-profit organization dubbed the Decentralized Identity Foundation.
Continue Reading on Coin Telegraph