PayPal invests in potential collaboration with Cambridge Blockchain
PayPal has joined the Series A funding round for Cambridge Blockchain Inc, with a view to exploring potential collaborations to leverage blockchain technology, reports Jane Connolly.
Cambridge Blockchain’s solutions aim to harness the possibilities of blockchain while meeting data privacy obligations and delivering strong digital identities at a global scale.
The investment figure from PayPal has not been announced.
“Our service helps streamline digital identity compliance while giving customers control over their identity data,” says Matthew Commons, Cambridge Blockchain’s CEO. “We are honoured by PayPal’s vote of confidence and look forward to their support and guidance.”
In an extension of its Series A funding round, the company also saw new investments from Omidyar Network and Flourish. They join previous investors including Foxconn’s HCM Capital, Partech Partners, Future/Perfect Ventures and Digital Currency Group.