AmEx Dives Deeper Into Crypto With Trading Platform Investment

American Express Co.’s venture arm has invested in the FalconX cryptocurrency trading platform, another sign that large financial services providers are tiptoeing into the digital-asset sphere.

The credit-card provider didn’t disclose the amount invested in the San Mateo, California-based startup, which raised $17 million in May from the likes of Accel, Coinbase Ventures and a fund affiliated with Fidelity Investments’ parent company.

AmEx has been investigating cryptocurrencies for years. In 2019, the company rolled out an app that uses blockchain -- the digital ledger behind many cryptocurrencies -- to let contractors and vendors reconcile invoices and time sheets. Amex ...