ORLANDO, Fla.--(BUSINESS WIRE)--Global Blockchain Ventures Fund, LP (“Global Blockchain Ventures,” “GBV”) the blockchain focused investment fund led by Al Weiss and created to “invest in emerging market founders on a mission to change the world” has invested $5 million in funding to Mercury Cash for the company’s Banking Charter preparation as part of its U.S. expansion plan.
The proceeds will facilitate meeting Banking licensing requirements. Mercury Cash will then proceed in the process to formally become a bank in the United States and be able to offer dollar bank accounts in customers’ names; this step will allow Mercury Cash to improve banking services and reduce the risk of relying on third party institutions to provide fiduciary financial services by having independent risk management with users for the on and off ramp.
“Mercury Cash is disrupting all traditional banking services, as well as exposing companies to digital assets in a way that complies with current regulations. Businesses can conduct multiple transactions in different countries in a matter of seconds with a single account, and it also allows them to switch from cryptocurrencies to dollars and other currencies in seconds,” comments Al Weiss, Chairman and General Partner, Global Blockchain Ventures. “When I met Victor and his team, I had no hesitation in becoming a partner of Mercury Cash.”
Mercury Cash’s current offering, on a best-efforts basis, is an investment round is up to USD $15,000,000, with which the company has planned to execute the expansion in the United States and the European Union for banking services.
“To consolidate the set of tools that the company has designed to offer our solution to Fortune 500 companies, and in addition, to stop depending on third party entities for the provision of our financial services and to increase the portfolio of payment products, which will allow us to provide greater efficiency, independence, and greater security to our type of customers: CFOs, General Managers, Treasury Managers, Auditors, Controllers, Managers and many more. Only companies that are being audited know how difficult it is,” states Mercury Cash Global Operations CEO, Victor Romero. “The Mercury Cash team is thankful to GBV. They have trusted our work and we have responded to their expectations. We are very happy to have them as investment partners.”
About Global Blockchain Ventures Fund, LP
Global Blockchain Ventures Fund, LP (“Global Blockchain Ventures,” “GBV”) is a blockchain-focused venture capital fund specializing in blockchain-enabled applications within synergistic technology platforms including Internet of Things, MedTech, Artificial Intelligence, and Healthcare.
About Mercury Cash
Mercury Cash is a global cash and cryptocurrency management solution designed for Fortune 500 companies that provides access to centralized and decentralized finance in one place.
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This announcement is neither an offer to sell, nor a solicitation of an offer to buy, any securities, nor shall there be any sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. Mercury Cash equity offering is being offered only pursuant to the Private Placement Memorandum issued by Mercury Cash.