Dave Inc Tacks On $100M From FTX To Hone Crypto Initiatives, 'Level The Playing Field'

FTX US’s West Realm Shires Services earlier this week announced a strategic partnership with banking app Dave Inc DAVE. FTX Ventures also made a $100 million investment in the firm.

The development comes as the company looks to build a global liquidity venue. In a December conversation with Benzinga, Sam Bankman-Fried said FTX is committed to solving traditional frustrations with compliance and infrastructure at other cryptocurrency exchanges.

With this investment, FTX US will now serve as Dave’s partner in crypto; the two will explore ways to introduce digital asset payments into Dave’s platform.

“This is an exciting milestone for our Company, our shareholders and all Dave members,” said Jason Wilk, Chief Executive Officer of Dave.

“We believe blockchain technology has the potential to level the financial playing field across the globe. By aligning with a world-class leader such as FTX US, we are in position to enter the digital asset arena, explore new growth opportunities, and improve the member experience. FTX US is a pioneer in the cryptocurrency ecosystem, and we look forward to working with them long-term to enhance stakeholder value through digital assets.”

Click here to read about FTX CEO Sam Bankman-Fried talk regulation, tokenization, and building "a global liquidity venue."