Share this article
Palantir Expecting Big Things From New Crypto Security Software
An executive for the data analytics software company said he thinks Palantir’s Foundry product will be a “massive accelerant for crypto companies.”
Updated May 11, 2023, 4:11 p.m. Published Nov 9, 2021, 5:56 p.m. 1 min read
Palantir Technologies (NYSE:PLTR) Chief Operating Officer Shyam Sankar said Tuesday he thinks the company’s new crypto software will be a “massive accelerant for crypto companies.”
- Earlier this year Palantir, a data analytics software company that was co-founded by billionaire Peter Thiel, released its Foundry software to serve the cryptocurrency market.
- “We are super excited about Foundry for crypto,” Sankar said on the company’s third-quarter earnings call, adding, “We think we’re going to be a massive accelerant for crypto companies.” He noted that the company’s clients are “welcome to pay us in crypto.”
- Palantir sees itself being a fit for crypto firms that require “industrialized compliance solutions.” The company said it is leveraging its anti-money laundering and know-your-customer expertise for potential crypto-exposed clients.
- In October, Palantir added blockchain data analytics firm Elementus to its Foundry for Builders Program, which provides startups with access to the flagship Foundry data intelligence software.
- Overall for the quarter, Palantir met earnings estimates and beat revenue estimates, but the growth in its government revenue fell short of analyst expectations. Palantir shares were trading 8.8% lower Tuesday at $24.40.
More For You
Crypto has solved tokenization, but not distribution and Prometheum says broker-dealers and RIAs are the key to bringing digital assets into mainstream finance.
What to know:
- Prometheum launched new infrastructure allowing broker-dealers and RIAs to offer tokenized securities and crypto assets through traditional brokerage accounts.
- Aaron Kaplan, co-founder and co-CEO of Prometheum says tokenization has advanced faster than distribution, leaving blockchain-based securities without mainstream investor access.
- The company is betting regulated Wall Street firms will drive...
Top Stories
