Crypto Exchange DRIVE Markets Receives Investment From Online Gambling Mogul Calvin Ayre

Investing, News | April 23, 2019 By:

Institutional crypto and fiat exchange DRIVE Markets ($DRV) has received an undisclosed investment form from entrepreneur Calvin Ayre, founder of Ayre Group and CoinGeek.

DRIVE Markets is a regulated exchang that offers spot and futures trading in BTC, BCH, LTC, ETH, XRP, USD, EUR, GBP, JPY and more. It recently announced DRIVE Pay, a multi-protocol, real-time remittance and gross settlement network for crypto and fiat currencies. DRIVE Pay is utilizing the Bitcoin SV blockchain as the anchoring ledger for its payments network and BSV coins as a bridge or intermediary currency to enable liquidity.

“At DRIVE, our roadmap leverages the infrastructure and capabilities of our institutional exchange and we were looking for the right solution partner that could scale DRIVE Pay to become a global leader in the multi-trillion dollar payment and settlement space,” said Kate Hiscox, CEO at DRIVE Markets. “Bitcoin SV, as a commodity data ledger, makes it the ideal blockchain to anchor DRIVE Pay and the BSV team possess a level of expertise and commitment to enterprise development that really impressed us,”

Ayre, a key backer of Bitcoin SV, expects the investment, which is in the multiple seven figures, to provide a significant boost to BSV enterprise usage and transaction volume.

“I like entrepreneurs who can cut through the noise and focus on technology that works,” Ayre said. “That’s why I like DRIVE. DRIVE recognizes the original bitcoin vision, now back in the form of Bitcoin SV, works at a massive scale. I look forward to seeing the DRIVE Pay network process huge amounts of transactions on the BSV blockchain, and further unleash the true power of btcoin.”

In addition, blockchain research and development firm nChain, also a key backer of Bitcoin SV, will support DRIVE Pay with its technical consulting services and access to its vast intellectual property portfolio.

“With DRIVE, the Bitcoin SV ecosystem gets bigger and gets down to some really big business,” said Jimmy Nguyen, Founding President of the Bitcoin Association and Chair of nChain’s Strategic Advisory Board. “From our discussions, it is clear DRIVE Markets sees BSV’s technical value as an enterprise ledger and business value as a regulation-friendly environment. We invite more companies around the world to study BSV’s technology capability and build on the only massively scalable blockchain – Bitcoin SV.”