Walmart director joins board for crypto wallet company Blockchain.com
January 24, 2022, 5:54PM EST
1 min read
Crypto startup Blockchain.com is adding Tom Horton, the lead independent director from Walmart, to its own board.
The crypto startup is known for its blockchain wallet that manages digital currencies. Horton will add to Blockchain.com's list of backers from other firms. The board recently added Marcie Vu, former head of consumer Internet banking at Morgan Stanley, and other financial backers include Google Ventures, Sir Richard Branson, and Lightspeed Venture Partners.
The company has raised a total of $537 million, with the most recent valuation at $5.2 billion in March last year, according to Bloomberg, who first reported the news of Horton joining the startup's board.
Blockchain.com has planned an initial public offering, which could happen in the “near to medium term,” Smith said to Bloomberg. Meanwhile, Bitcoin’s price continues to fall from its all-time high in November.
Horton is on the board of General Electric and was previously chairman of American Airlines. In the new year, the company is launching new services like an NFT marketplace and is expanding internationally.
Today the always-on demands of online markets have to be matched with the ability to access opportunities instantly and with no limits. Historically correspondent banks would move large sums of money for those needing to transfer funds while creating bottlenecks of unnecessary friction.
Ethereum had a breakout year in 2021. It’s native asset, ETH’s, market capitalization surpassed $500 billion for the first time. Its network facilitated upwards of $7 trillion value transfer. Non-fungible tokens (NFTs) emerged as another “killer application” that have put its technology on the global stage and caught the attention of the masses.
In this episode of The Scoop, StarkWare Co-Founders Uri Kolodny and Eli Ben-Sasson walk through StarkWare's recent fundraise and discuss how their firm is bringing affordable blockchain transactions to the masses.