FinTech news in Microsoft category

According to Amex, the initial solution will leverage machine learning and AI to automate expense reporting and approvals.

Microsoft has backed Wemade, a popular video game developer that has made aggressive bets on blockchain in recent years, the latest sign of tech giants’ showing growing interest in web3. South Korea Wemade said in a press release that it has raised $46 million in a funding round from Microsoft, Shinhan Asset Management and Kiwoom Securities. Microsoft is also an investor in ConsenSys, the firm behind MetaMask wallet and enterprise solutions such as Infura, as well as decentralized data warehouse Space and Time and NFT studio Palm, according to Web3 Signals. Scores of tech giants including Microsoft and Google and storied banks have made a series of investments in the web3 space in recent years.

The platform is a part of the Startup with Chainlink program and will be working closely with the oracle network to extend the capabilities of smart contracts so blockchain developers can build multi-chain decentralized applications (dApps) alongside analytical insights in a low-cost, decentralized way. Space and Time, a decentralized data platform, has raised $20 million in strategic funding to help businesses grow through smart contract technology. The capital raise was led by Microsoft venture fund M12 and included investors like Framework Ventures, HashKey, SevenX Ventures, Foresight Ventures, Polygon and Avalanche’s ecosystem fund Blizzard, among others. In the near term, Space and Time wants to help web3 dApp developers simplify their data ecosystems and architectures, Holiday said.

Tiffanie Stanard launched the company in 2017 with a focus on the supply chain, creating a product that provided establishments with the tools and data to choose, compare, and form relationships with product suppliers and vendors. She spent six years as a payroll and vendor manager before starting her own company.