FTX Makes Strategic Partnership with Banking App Dave, Invests $100M

FTX Makes Strategic Partnership with Banking App Dave, Invests $100M

SBF’s cryptocurrency exchange will be helping the financial app to "expand the digital assets ecosystem."

Based on the official press release by Dave, FTX’s venture capital arm FTX Ventures has funded the financial startup with $100 million and entered a strategic agreement with the platform. 

With the investment and cooperation with FTX, Dave will be implementing cryptocurrency payment support, and other initiatives that are focused on future finance and digital assets.

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CEO of Dave Jason Wilk spoke on the strategic investment and partnership with FTX, hinting that the collaboration with FTX will be a multi-year agreement, and highlighting the importance of implementing blockchain technologies in the financial sector.

Likewise, Brett Harrison, who is the President of FTX US, chimed in with his own insight into the partnership with Dave, stating:

"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. We see significant growth opportunities ahead for both of our companies and are excited to be working with Dave."

FTX has just recently started investing in smaller FinTech companies after launching its $2B venture fund, led by Amy Wu.

Not only that, during the past several weeks, FTX has started its operations in Europe and secured a crypto license in Dubai.

Dom Z. - Crypto Analyst

by Dom Z. - Crypto Analyst, BitDegree


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