FTX US Partners with Digital Banking App DAVE And Invests 0 Million
Publicly traded digital banking app, Dave (DAVE) has received a $100 million investment from FTX ventures, after a strategic partnership with crypto exchange FTX US was announced.
FTX US and Dave are reviewing ways introduce digital asset payments onto Dave’s platform and FTX US will thereby serve as the exclusive partner for any crypto offerings.
The $100 million investment from FTX Ventures was through a convertible note, a type of short-term debt.
FTX US President Brett Harrison in a press release:
“We consistently look to align with companies that share our vision, have unique and disruptive business models, and can help drive widespread adoption of digital assets. Dave is a great fit as they check all three boxes.”
Dave, which includes billionaire Mark Cuban as an invested party, went public earlier in the year on January after a $4 billion merger with special purpose acquisition company (SPAC) VPC Impact Acquisition Holdings III.
FTX US made headlines as well this year after it raised $400 million at an $8 billion valuation in what accounts for one of the crypto industry’s largest Series A rounds.
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Source: igaming
