“Western Union’s Remittance Partnership”
Money transfer giant Western Union has teamed up with blockchain startup Coins.ph to enable residents of the Philippines to more easily receive cash remittances. The newly inked deal will see both international and domestic payments made via Western Union’s network arrive directly into the digital wallets held by Coins.ph’s “over 5 million” users, the startup announced late last week. The service aims to offer “quick and convenient access to remittances, in urban and remote underserved areas,” Coins.ph said, adding that linking with Western Union’s digital and retail networks enables customers to receive payments from virtually all nations and territories worldwide.
“Dharma Launches Officially”
Opportunities to earn interest on your crypto are increasing, and Dharma is the latest to enter the fray. Announced Monday, lending startup Dharma is now open to everyone. Lenders and borrowers are matched peer-to-peer to set up crypto lending terms in a non-custodial fashion, governed by Dharma’s smart contracts. Dharma will differentiate itself from others in the market by offering depositors a fixed rate of return on the crypto they make available to lend.
“Sparkswap Raises $3.5 Million”
The United States-based startup Sparkswap has completed a successful seed funding round to create a decentralized exchange based on the Bitcoin (BTC) Lightning Network. A blog post revealed the development on Monday, April 8. According to Sparkswap’s founder Trey Griffith, the company raised $3.5 million from investors including Initialized Capital, Pantera Capital, Foundation Capital and Y Combinator. The startup intends to create a decentralized exchange that will be protected from hacks, while still processing transactions on blockchain.
“Ex-employee Sues Kraken”
A former employee of Kraken, one of the oldest Bitcoin exchanges, is suing the crypto platform for allegedly failing to pay him for work he did. Jonathan Silverman, who was hired in April 2017 to manage Kraken’s institutional sales and trading desk in New York, is demanding compensation in excess of $900,000, according to a suit filed April 4 in New York. That’s based on an agreement Silverman says he reached with Jesse Powell, the San Francisco-based exchange’s founder, who offered him a $150,000 salary and orally agreed to pay him a 10 percent commission of the trading desk’s annual profit. Silverman says the trading desk generated more than $19 million in profits during three months in 2017 and he never received neither the commission nor additional promised stock options.