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Vandana Malik
Dec 17, 2020
by Vandana Malik

American Express Enters Crypto Market with Investment in FalconX

American Express investment in FalconX
American Express has recently announced an investment made in FalconX, an institutional crypto trading platform. Through this, the firm has now entered into the crypto market however, the actual investment has not been revealed by the firm yet. 

The press release by FalconX has revealed that American Express is looking for different opportunities through which they can offer digital assets related services. It is going to be a great start for the firm as FalconX’s major focus is on institutional investors only.

American Express Looking to Better Understand Different Payments Ecosystem 

American Express is one of the oldest and leading financial firms based in the U.S. and is having a market capitalization of around $95 billion. This recent partnership with FalconX is because for the past some time, the firm has been seeing a huge demand for digital assets. This step could be seen as the one towards the adoption of the crypto market. 

Harshul Sanghi, Global Head of American Express Ventures, believes FalconX to be the kind of firm that brings simplicity to the digital asset space which is otherwise quite complex. He stated:

“American Express Ventures invests in startups as a way to better understand emerging areas of the payments ecosystem, and we are pleased to support FalconX as it continues to drive innovation in the digital asset space, including digital currencies.”

FalconX Reports Surge in Institutional Customers 

Along with the announcement of investment by American Express, FalconX has also reported a huge surge in institutional investors. The firm believes that most of the institutional managers are looking at cryptocurrencies as an inflationary hedge against all the traditional assets. Raghu Yarlagadda, CEO and Co-founder of FalconX, has said that their firm is completely delighted to receive American Express’s investment and welcomes the company to their platform. Both the firms are now looking for further expansion through this investment and partnership.

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American Express Enters Crypto Market with Investment in FalconX
Vandana Malik
Vandana has received Master of Arts degree in English from GEU Dehradun. She is currently working as a content writer with Agio Support Solutions and earlier worked as a sub-news editor at Business News and Information Services Private Limited. She is an enthusiastic content writer and aims to bring a compelling yet informative content to the audience. Meanwhile, enhancing her own knowledge in the cryptocurrency and blockchain industry.

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