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FTX Invests $100M in Banking App Dave, Forms Partnership for Crypto Payments
FTX US will serve as the exclusive partner for any crypto offerings offered by Dave
By Brandy Betz
Updated Apr 9, 2024, 11:33 p.m. Published Mar 21, 2022, 9:22 p.m.
Dave (DAVE), a publicly traded banking app, has made a strategic partnership with FTX US, the stateside arm of cryptocurrency exchange giant FTX. The company also received a $100 million investment from FTX Ventures, the exchange’s $2 billion venture capital fund.
- FTX US and Dave are currently exploring how to introduce digital asset payments onto Dave’s platform. FTX US will serve as the exclusive partner for any crypto offerings.
- The $100 million investment from FTX Ventures was through a convertible note, a type of short-term debt.
- “We consistently look to align with companies that share our vision, have unique and disruptive business models, and can help drive widespread adoption of digital assets. Dave is a great fit as they check all three boxes,” said FTX US President Brett Harrison in a press release.
- Dave, which counts billionaire Mark Cuban among its backers, went public in January through a $4 billion merger with special purpose acquisition company (SPAC) VPC Impact Acquisition Holdings III.
- Earlier this year, FTX US raised $400 million at an $8 billion valuation in one of the crypto industry’s largest Series A rounds.
- Shares of Dave closed up 4.85% in Monday’s trading, and were up about 3% in after-hours trading. The company also reported fourth-quarter earnings after the close on Monday.
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- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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