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Bruce B. Dec 22, 2022
Financial Services News
Last active over 7 days
Last active over 7 days
U.S. neobank Cogni today debuted its noncustodial wallet. Founded in 2018, in the Barclays' accelerator program, Cogni has refocused on web3, following in the footsteps of Revolut, N26 and Step.

Currently, Cogni's wallet acts as a shell that allows users to simply hold, send and receive crypto, but a forthcoming partnership with an as-yet-unnamed exchange will let users purchase crypto in-app.

Neobanks have so far largely sought to build out crypto investment tools via custodial solutions provided by third-party crypto service providers. Cogni's wallet, which is integrated with a bank account, will connect directly to an exchange which allows them to provide institutional rates to regular customers.

Unlike other fintech companies, Cogni's wallet is built alongside its preexisting banking services in the app. This means that users can view everyday transactions and bills — ticket purchases, grocery bills and paychecks — alongside on-chain transactions in one interface.

The startup is also looking to dive deeper into NFTs with an integration that will be rolled out after the wallet's launch. There are plans in the pipeline to enable NFT-based profile pictures.

In April, Cogni raised a $23 million Series A led by Korean firm Hanwha Asset Management and CaplinFO. The wallet will launch from the outset as a multi-chain solution and look to expand into new layer-one networks such as Aptos in the coming months.

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Bruce B. Dec 21, 2022
Financial Services News
Last active over 7 days
Last active over 7 days
Polygon Co-Founder, Sandeep Nailwal, has launched a Web3 startup accelerator, called Beacon. The NYC-based accelerator said it will support early-stage crypto projects through mentorship and financing.





Beacon is part of Nailwal's Symbolic Capital, a crypto venture capital firm he launched in August with a $50 million fund. "We’re creating Beacon because, as a network of Web3 founders and operators ourselves, we’re 100% committed to this idea of bringing the next one billion users into this space.





"Our ultimate goal is to build the greatest network of web3 founders in the world," Nailwal said. "Having gone through an accelerator before, I found that the greatest resource in any accelerator is the other founders going through the program alongside you. We think that as our alumni network grows, the overall quality of projects being built in web3 will increase as founders help each other find success."





The accelerator’s first remote-first, 12-week cohort kicked off in October with more than 30 founders from 15 companies across decentralized finance (DeFi), infrastructure and consumer applications.





Beacon hopes to stand out from other accelerators by building in-house software that can connect founders and investors. Beacon has already built a custom platform for potential investors to review projects, learn more about founders, view video pitches and request introductions.





On the founder side, Beacon is working on a social network to help founders and alumni stay connected. Beacon’s inaugural program will end with a live-streamed Demo Day in January where founders will pitch to more than 300 Web3 investors. Beacon aims to create the next 100 web3 unicorns.





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https://youtu.be/5BU2QDnoi3g
 
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