Crypto Bank MinePlex Gets $100 Million Funding From GEM Digital

Summary:
• GEM, an investment firm, has committed $100 million investment into MinePlex, a banking-focused blockchain firm. We tell you more about this.

MinePlex, a cryptocurrency bank based in Singapore, has just received $100 million in funding from the digital asset investment business GEM Digital Limited (GEM) to bridge the gap between traditional banking and digital assets. MinePlex plans to put the money into creating innovative banking technology, such as a partnership with Mastercard and Visa to enable the usage of Tether, Bitcoin, and Tron in financial transactions.

How will the money help MinePlex in its mission?

GEM’s financial backing will help MinePlex quickly expand its ecosystem and create next-generation blockchain-based financial solutions. GEM is a non-traditional investment firm that has served as a source of funding for a number of other cryptocurrency-related start-up companies. It identifies, develops, and finances utility tokens.

MinePlex’s main bet is that it can successfully bridge the gap between digital assets and conventional banking services. As part of the fundraising effort, MinePlex will also work to list its native PLEX coin on more platforms. It will also boost advertising, encourage the growth of business-to-business and enhance B2G opportunities, and encourage the formation of partnerships with banking institutions.

The investment in MinePlex comes at a time when the company is working toward its goals of obtaining a banking license and primary membership in the MasterCard International payment system. In addition, MinePlex Banking, its flagship offering, will soon enable millions of people to conduct quick and secure digital transactions using credit cards, mobile apps, and cryptocurrencies.

MinePlex is an up-and-coming digital ecosystem with the ambition to meet the need for more sophisticated and cutting-edge monetary services. It employs cutting-edge CrossFi technology, which combines the trustworthiness of traditional banking with the decentralization and security of blockchain. Later this year, the company plans to begin accepting USDT, BTC, ETH, and TRON tokens through CrossFi acquiring in partnership with MasterCard and Visa cards.