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According to Fortune, Bridge, a global stablecoin payment network co-founded by former Square and Coinbase executives Zach Abrams and Sean Yu, announced that it has received $58 million in financing, with participation from Sequoia, Ribbit and Index. It aims to challenge traditional payment systems such as Swift and credit cards.

According to Foresight News, stablecoin payment application Sling Money has successfully raised $15 million in a Series A funding round. The round was led by Union Square Ventures, Ribbit Capital, and Slow Ventures. Previously, Sling Money had also secured $5 million in seed funding, led by Ribbit Capital with participation from Slow Ventures. Sling Money integrates stablecoin technology with a user-friendly interface and seamlessly connects with fiat payment systems. This combination aims to facilitate more efficient and cost-effective global money transfers.

According to Foresight News, stablecoin payment application Sling Money has successfully raised $15 million in a Series A funding round. The round was led by Union Square Ventures, Ribbit Capital, and Slow Ventures. Previously, Sling Money had also secured $5 million in seed funding, led by Ribbit Capital with participation from Slow Ventures. Sling Money integrates stablecoin technology with a user-friendly interface and seamlessly connects with fiat payment systems. This combination aims to facilitate more efficient and cost-effective global money transfers.

Volatility in the value of cryptocurrency is one of the factors impeding market growth. The value of cryptocurrencies is highly volatile. Therefore, low-risk investors do not include cryptocurrencies in their financial portfolios. The volatility in value is largely due to cryptocurrencies being held by a limited number of people who buy and sell in bulk on trading platforms and exchanges. In June 2022, Bitcoin lost more than 10% of its value in one day. This is a significant drop from November 2021, when Bitcoin was worth USD 69,000 per token. A bill released in India plans to ban cryptocurrencies and is poised to launch its own cryptocurrency, leading to the devaluation of several digital currencies. The coin fell more than 13% on the Indian exchange WazirX, while Shiba Inu and Dogecoin both fell more than 15%. Moreover, the lack of transaction charges, position charges, trade posting fees, and regulations on trading platforms also causes volatility in the value of cryptocurrency. Hence, people who hold a significant share of cryptocurrency manipulate the value to increase their profits without making any actual investments. Therefore, several investors, like Accel, Ribbit Capital, insight partners, etc, have refrained from including cryptocurrency in their financial portfolios, which is a challenge for the growth of the market during the forecast period$BTC

In the first 12 days of Aug., $141.3 million has flowed into crypto, defi, and blockchain ventures, according to recent metrics. Morpho, a decentralized lending developer, accounted for roughly 35.38% of the total funds raised across 20 different projects. $141.3 Million Floods Into 20 Crypto Startups and Projects Even with the crypto markets experiencing a downturn, venture capital continues to pour in, amounting to $141.3 million so far across 20 different startups. Morpho led the pack, raising $50 million in a funding round spearheaded by Ribbit Capital, with Brevan Howard,  Ventures, A16z Crypto, Coinbase Ventures, and Pantera Capital also participating. Data from crypto-fundraising.info shows that Andrena, a U.S.-based internet service provider developing a decentralized broadband protocol known as DAWN (Decentralized Autonomous Wireless Network), secured $18 million in an extended Series A round led by Dragonfly Capital. Additional backing came from Parfi, Castle Island Ventures, 6th Man Ventures, Wintermute Ventures, and CMT Digital. Among other notable fundraises, Vessel, a decentralized finance (defi) project building a ZK-powered order book trading platform, gathered $10 million. The Web3 startup Cartridge raised $7.5 million, while Pentagon Games, a Web3 AI game publisher utilizing ZK-EVM technology, secured $6 million. Deagentai, a Web3 AI network, matched this amount. Web3 remained a hot topic in Aug., with Curio, a Web3 game development company, raising $5.7 million. 375ai, a decentralized edge data intelligence startup, managed to gather $5 million, and Tonx, a superapp platform layer, brought in $4 million this month. The creators of Tokenized Liquid Note (ZTLN), Zoth, also secured $4 million. Meanwhile, Moonveil Entertainment, a layer two (L2) gaming ecosystem startup, raised $3.6 million, and the artificial intelligence (AI) project Payman AI rounded out the top 12 with a $3 million raise. The remaining eight projects include Blockscout ($3 million), Khalani Network ($2.5 million), Pichi Finance ($2.5 million), Metadao ($2.2 million), Nexio ($2.2 million), Elmts ($2 million), Lync ($1.5 million), and Quantlytica ($1.1 million). Despite the challenging market conditions, investors continue to show strong confidence in blockchain and Web3 innovations. The wide variety of projects attracting substantial funding underscores the ongoing interest in these emerging technologies. $BTC