Florida – United States [July 26, 2021.] – Global Blockchain Ventures Fund, LP, the blockchain-focused investment fund led by Al Weiss and created to “invest in emerging market founders on a mission to change the world”, has invested $5 million in funding to Mercury Cash for the company’s Banking Charter preparation as part of its U.S. expansion plan.
The reserves that will enter Mercury Cash’s coffers will facilitate meeting Banking licensing requirements. The entity will then formally attempt to become a bank in the United States and be able to offer dollar bank accounts in the customer’s name; this step will allow Mercury Cash to improve banking services and reduce the risk of relying on third-party institutions to provide fiduciary financial services by having independent risk management with users for the on and off-ramp.
Mercury Cash’s current investment round is up to US$15 million, with which the company has planned to execute the expansion in The United States and The European Union for banking services.
Mercury Cash Global Operations CEO, Victor Romero, has stated that the intention of this financing round is to:
“To consolidate the set of tools that the company has designed to offer our solution to Fortune 500 companies, and in addition, to stop depending on third party entities for the provision of our financial services and to increase the portfolio of payment products, which will allow us to provide greater efficiency, independence, and greater security to our type of customers: CFOs, General Managers, Treasury Managers, Auditors, Controllers, Managers and many more. Only companies that are being audited know how difficult it is”; he also had words of thanks for Global Blockchain Ventures Fund, LP: “they have trusted in our work, and we have responded to their expectations, we are very happy to have them as investment partners”.
Romero has stated several times that “a free economic system is the fundamental pillar of sustainable development”, and, that is what he is aiming at with Mercury Cash.
In addition, Al Weiss, one of Mercury Cash’s lead investors at the helm of Global Blockchain Ventures Fund, LP, has praised the company’s management and Romero’s leadership:
“Mercury Cash is disrupting all traditional banking services, as well as exposing companies to digital assets in a way that complies with current regulations. Businesses can conduct multiple transactions in different countries in a matter of seconds with a single account, and it also allows them to switch from cryptocurrencies to dollars and other currencies in seconds; when I met Victor and his team, I had no hesitation in becoming a partner of Mercury Cash.”
About Mercury Cash
Mercury Cash is a global cash & cryptocurrency management solution designed for Fortune 500 companies that provides access to centralized and decentralized finance in one place.
About Global Blockchain Ventures Fund, LP [GBV]
GBV is a blockchain-focused venture capital fund specializing in blockchain-enabled applications within synergistic technology platforms including the Internet of Things, MedTech and Artificial Intelligence, Healthcare.
Mercury Cash, a leap into the future of decentralized banking.
This Press Release contains forward-looking statements, including statements relating to Mercury Cash business and the success of the ongoing Mercury Cash equity offering. Other statements in this press release that include words such as “should”, “may”, “believe”, “could”, “expect”, “intend”, “plan”, “potential”, “project”, and other similar expressions, also are forward-looking statements. Forward-looking statements are made based upon management’s current expectations and beliefs concerning future developments and their potential effects on Mercury cash. Such forward-looking statements are not guarantees of future performance. There are different risks that could affect Mercury Cash actual results, including factors relating to legal and regulatory developments or changes, technological developments and/or difficulties, general economic conditions, conditions in cryptocurrency markets, changes in investor confidence regarding Mercury Cash ability to successfully operate its business and manage its core banking solution. Mercury Cash expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statement contained herein to reflect any change in its expectation with regard thereto or any change in events, conditions, or circumstances on which any such statement is based.
This press release is neither an offer to sell, nor a solicitation of an offer to buy, any securities, nor shall there be any sale of any securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful. Mercury Cash equity offering is being offered only pursuant to the Private Placement Memorandum.