Zabo, a Dallas-based cryptocurrency banking application that allows users to get paid in Bitcoin by allocating pay between cash and cryptocurrency, announced a $1.15m seed funding round raised last year.
Blockchange Ventures, a New York-based venture capital firm backing exclusively early stage blockchain companies, protocols and applications made the investment.
Co-founded by President Alex Treece and CEO Christopher Brown, Zabo lets users get paid in Bitcoin by allocating a pay between cash and cryptocurrency. Its licensed banking partner will provide FDIC-insured US Dollar bank accounts and be governed and compliant with applicable federal and state money transmission laws and regulations.
The product, currently under development, is intended for launch mid 2019.
Alex Treece serves as Director at the University of Texas at Dallas’ Jindal School of Management. Previously, he was the lead Product Manager at Sentieo focused on building a modern cryptoasset data platform. Treece began his career as an investment banker at Stephens and later joined the global private equity firm Riverside Company.
Christopher Brown started his career in the US military, serving for 8 years in various capacities, including airspace design, air traffic control, systems security, and information security.