American Express dives deeper into crypto with trading platform investment Olga Kharif, Bloomberg News VIDEO SIGN OUT American Express Co.âs 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 didnât disclose the amount invested in the San Mateo, California-based startup, which raised US$17 million in May from the likes of Accel, Coinbase Ventures and a fund affiliated with Fidelity Investmentsâ 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 Ventures remains an investor in Abra, which allows for trading of cryptocurrencies. AmEx has also tested using blockchain to let merchants create tailored offers involving membership rewards points, and enabling international business-to-business payments.