Flow, the newest residential authentic estate startup founded by former WeWork CEO, is about to launch a digital wallet capable of storing cryptocurrencies.
According to the most up-to-date announcement, the most up-to-date firm of Adam Neumann is Flow is about to launch a digital wallet capable of storing cryptocurrencies.
Forbes has realized that Flow intends to launch a digital wallet capable of storing cryptocurrencies, amid other currencies, together with US bucks, in addition to its previously announced residence management software program. https://t.co/1bfaDfiik1
– Forbes (@Forbes) August 17, 2022
The wallet is stored in fiat as USD but is not employed to shell out the lease for apartments managed by the firm, Flow spokesperson Davidson Goldin explained. Forbes. The wallet can be employed for external transactions and a rewards plan that consists of cryptocurrencies.
Neumann acquired a $ 350 million investment from a16z for his residence management software program venture, but only a handful of information of the deal have been disclosed.
Neumann left WeWork in 2019, the firm he co-founded in 2008, following strain from traders. Subsequently, Neuman rose to prominence as a result of authentic estate investments in secondary markets this kind of as Nashville, Tennessee, Norwalk, Connecticut and investments in authentic estate management software program company Alfred, in accordance to Forbes.
Forbes initial found Flow’s strategies to release a digital wallet from a work posting. The publish mentions that Neumann is creating a multigenerational wealth management process with a proprietary payment process that consists of a in depth money solutions portfolio, tokenized rewards plan, and cryptographic payment solutions.
Neumann is also identified for its Flowcarbon, The climate engineering startup is a pioneer in creating infrastructure for the voluntary carbon marketplace (VCM). The firm raised $ 70 million to build its blockchain-based mostly carbon trading equipment in a funding round also led by a16z. But about two months soon after the funding round, Flowcarbon announced the postponement of the token launch, citing marketplace volatility.
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