Find Latest Articles on Crypto, Blockchain and Regulations Worldwide.
bitcoinBTC/USD
$ 23,268.23
ethereumETH/USD
$ 1,714.01
tetherUSDT/USD
$ 1.00
usd-coinUSDC/USD
$ 1.00
bnbBNB/USD
$ 323.28
xrpXRP/USD
$ 0.375720
binance-usdBUSD/USD
$ 1.00
cardanoADA/USD
$ 0.521257
solanaSOL/USD
$ 40.70
polkadotDOT/USD
$ 8.76

Blockchain.com closes another fundraising taking its valuation to $14BN

0


  • The exchange has completed four financing rounds since the start of 2021
  • Blockchain.com has a customer base of 37 million users and has processed more than $1 trillion in transactions

UK-based cryptocurrency exchange Blockchain.com has reportedly concluded a funding round led by one of its previous investors, Lightspeed Ventures Partners, as per a Thursday report from Bloomberg.

Independent investment management firm Baillie Gifford had heavy involvement in the raise, which comes at a $14 billion market valuation – more than double the valuation during the previous financing round completed by the exchange. The report didn’t feature details of the sum raised, and neither party involved has made any official communication.

 In addition to running a platform for trading crypto assets, Blockchain.com also provides custodial services. The exchange has a crypto wallet offering which it claims is the most powerful and user-friendly. According to its website, it has created 82 million wallets.

For institutional clients, the exchange provides a cryptocurrency platform that supports lending, trading, and custody.

Previous capital injections

The latest raise succeeds a series C round that saw the company secure $300 million last March at a valuation of $5.2 billion. Notably, Lightspeed Ventures participated in the raise, with VY Capital having a hand as well. The round was, however, led by Chinese venture capital and private equity firm DST Global.

Prior to this, the exchange had also raised $120M from various macro investment funds in February 2021 to expand its institutional business. The funding came on the back of a series B raise through which Blockchain.com had scored $40 million.

Last April, Baillie Gifford injected $100 million into the exchange. At the time, the investment was the largest ever recorded in the company’s books.

Operations in the UK market

Earlier this week, Blockchain.com joined the list of companies that are no longer actively seeking licensing in the UK after withdrawing from the FCA’s temporal registration list on Tuesday.

The UK financial markets watchdog had ordered all crypto-entities operating in the UK to register with it and comply with anti-money-laundering (AML) regulations. The exchange withdrew ahead of today’s deadline but will continue its European operations via Lithuanian licensing.



Source link

Leave A Reply

Your email address will not be published.

Shares