US blockchain startup Flexa has raised $14.1 million to develop a payment network for retailers.
It claims that this will reduce costs, overhead and fraud by means of blockchain-based settlements. Investors include 1kx, Access Ventures and Nima Capital and Pantera Capital.
Tyler Spalding, Co-Founder and CEO of Flexa, says: "The anti-fraud and cost benefits of global cryptocurrency payments are enormous, but there are many barriers to mainstream adoption for merchants and consumers alike. Flexa's going to change that."