Concorde Capital, Magnus Capital, and 7 O'Clock Capital invest in Ukrainian cryptocurrency startup

Igor Mazepa, CEO and Owner of Concorde Capital investment company, announces investment in Ukrainian cryptocurrency startup

Concorde Capital , Ukraine, Magnus Capital, United States, and 7 O’Clock Capital, China, have become investors in Weld Money, a Ukrainian startup enabling payments with cryptocurrencies as with traditional bank cards.

The idea is that cryptocurrency holders can use a Weld Money card to pay for any purchase or service. To activate the card, the holders should take three steps:

• Fill in a form at https://weld.money/ and receive a virtual card.
• Connect any exchange where the cryptocurrency is held to this card via the API using the Weld Money application.
• Add the card to Apple/Google Pay.

After that, the holder can pay for any online or offline purchase with the Weld Money card as a regular bank card, and the amount spent will be debited in the equivalent to the exchange account. The Weld Money card is expected to be fully operational in Ukraine as soon as this October and in European and CIS countries by the year end.

“Initially, cryptocurrency was used by quite a limited  circle of technically savvy people only for transfers of large sums because of high transaction fees and a variety of difficulties with the cryptocurrency to fiat money exchange. We want to make crypto payments for any product or service simple and convenient,” said Weld Money co-founder Oleksiy Bobok.

According to him, the CIS countries are now among leaders by the number of digital asset holders and the rate of penetration.

“The Weld payment solution best addresses the current market needs of users. We expect to win a big share of the CIS payments market,” said Jonathan Poots, a representative of Magnus Capital. In turn, Concorde Capital CEO Igor Mazepa emphasised that the company was developing as a direct investment fund in recent years, in addition to its traditional investment banking business. The firm is eyeing various promising areas, including the cryptocurrency market.

“We are embarking on a new business by investing in the Weld Money startup, as we see great prospects in this area. Clearly, there are risks like with most startups, but denying that crypto has become a new reality is merely senseless,” said Igor Mazepa.

Company profile:

Magnus Capital is a digital assets fund established in 2018 to support and drive the development of the sector. The company has invested in such giants as DaoMaker, FalconSwap, Trustswap, Origin Protocol, and a number of other projects, helping them grow.

7 O’Clock Capital is a crypto venture fund focused on DeFi. Offering funding and a launchpad for DeFi projects at an early stage, 7 O’Clock Capital accelerates DeFi implementation and contributes to the DeFi ecosystem development worldwide. The company also focuses on other blockchain sectors, such as public networks, Web3, distributed storage, and NFT, to help the blockchain better adapt to the global financial system and increase the liquidity of digital assets. Among its prominent investment projects are 1MillionNFTs, Chia Network, PlatON, and SingularityDAO.

Concorde Capital is Ukraine’s leading investment company founded in 2004. It offers a full range of international brokerage and investment services and invests directly in medicine, building materials market, real estate, energy, minerals mining, and IT. Using various financial instruments and taking innovative approaches to contracts, the company has raised over US$4 billion for Ukrainian companies operating in metals, automotive industry, real estate, chemicals, oil and gas, agriculture, and pharmaceutical sector. CEO and Founder of Concorde Capital is Igor Mazepa.