PayPal, Visa invest in Blockchain Capital's $300M fundraising

Blockchain Capital, a venture capital firm that focuses on blockchain and the cryptocurrency ecosystem, raises $300M for its latest fund, led by investors including PayPal ([[PYPL]] -0.3%) and Visa ([[V]] -0.2%).Blockchain Capital V LP was heavily oversubscribed with participation from strategic investors, pension funds, major university endowments, and family offices, the firm said."PayPal is committed to fostering an ecosystem of companies making digital currencies more accessible, useful and secure," said Jose Fernandez da Ponte, vice president, general manager blockchain, crypto and digital currencies at PayPal.Meanwhile, Visa's chief financial officer, Vasant Prabhu, said, "We're focused on enhancing all forms of money movement, whether on the Visa network, or beyond." The relationship with Blockchain Capital bolsters Visa's efforts to "shape and support the role that digital currencies play in the future," he added.The fundraising occurred right before cryptocurrencies slumped to the lowest level in months as bitcoin miners in China are reportedly being