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Friday, August 17, 2018

AirBNB co-founder becomes the latest Silicon Valley heavyweight to enter the cryptocurrency world...

We're way past the point of wondering if something big is right around the corner - we've been talking about a lot of familiar names this month jumping on board and officially making their entry into the cryptocurrency world. Microsoft, Starbucks, NASDAQ, NYSE to name a few - and yes you may have heard these names mentioned before in a cryptocurrency or blockchain article, but this is the month they all put their money where their mouth is.

The latest is AirBNB co-founder Nathan Blecharczyk. While this one is an individual (not acting on behalf of AirBNB) the concept behind what he just invested in is all about bringing in even more large investors.

The company is called SFOX and their focus is "large-scale investors such as funds, family offices, and high-net-worth individuals".

"We've seen high interest from our clients in expanding their exposure to crypto assets. Institutions need a full service asset management platform that meets the unique needs of cryptocurrency. This is not being fulfilled by traditional tools and current platforms. We're in a great position to provide these rails. This investment will allow us to pursue this evolution." says SFOX CEO Akbar Thobhani.

Blecharczyk who co-founded AirBNB in 2008 was part of a $22.7 million series-a funding round that announced it's closure yesterday.  While it's not a company mentioned often, SFOX has been around since 2014 and boasts over $9 billion in total transactions.

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Author: Ross Davis
E-Mail: Ross@GlobalCryptoPress.com Twitter:@RossFM
San Francisco News Desk