Blockchain.com secures 120 million USD in financing round

Blockchain.com secures 120 million USD in financing round

 Blockchain.com, crypto currency exchange, wallet and lending platform has closed  a strategic financing round, securing $120M from some of the world’s leading macro investors. These investors include Moore Strategic Ventures(Louis Bacon),  Kyle Bass, Access Industries, Rovida Advisors,  LIghtSpeed Venture Partners GV (aka Google Ventures), Lakestar Eldridge and more.

As per a statement by CEO and Co Founder Peter Smith, "When we set out to raise our Series A in late 2014, there were only a handful of venture-backed crypto companies. A bitcoin was worth hundreds of dollars and we were pleased to power just over 2 million wallets in the wild. Six years later, we’ve come a long way. Bitcoin just crossed the monumental price target of $50k. Over 65M Wallets have been created in 200+ countries. And 28% of all Bitcoin transactions since 2012 have occurred via Blockchain.com, representing billions in transaction volume. What excites me most about this moment is the immense optimism about cryptocurrency from serious, institutional investors. In fact, the current bull run is dominated by stories of Fortune 500 companies, investment funds, and institutions driving net inflows into crypto. The fact that the best macro investors in the world participated in our latest fundraise is further proof that institutions are taking a serious look at their crypto strategy." 

He adds, "Our Institutional Markets business is growing exponentially, and while the Wallet remains the core of our business, our Institutional business is now significant enough to cover the entire operating cost of the business globally while also delivering additional operating profits. More than ever before, crypto begins to seem like the real Robin Hood of finance. A decentralized network that creates and stores value for anyone with a mobile device and an internet connection. Companies are adding bitcoin to their balance sheets, central banks are taking notice of the innovations in DeFi, and we’re seeing all time high after all time high." 

 

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