Cryptocurrency exchange and financial services company Blockchain.com has raised $14 billion in new funding.
Blockchain.com started with a bitcoin block review in 2011, where it was a pioneer, then continued its activities by creating a cryptocurrency wallet application. Today, after a round of funding with global venture capital firms, the company is valued at $14 billion.
Global venture capital firm Lightspeed Ventures and investment management firm Baillie Gifford & Co., who invested in Tesla stock, led the funding round, Bloomberg reports. The valuation of the companies during the funding round has increased from 5.2 billion to 14 billion, while the total amount of investments has not yet been disclosed.
Blockchain.com’s range of blockchain-based financial services is diverse and growing, including crypto wallets and its own exchange platform, as well as institutional asset management products. The total value of transactions on the company’s platform is over $1 trillion.
Baillie Gifford & Co. invested in the company last year , making a record high investment of $100 million.
Last March, Blockchain.com raised $300 million in funding from DST Global Partners, Lightspeed Venture Partners and VY Capital.
Prior to this, investments were mainly directed to institutional business management assets and amounted to $120 million from various venture capital companies.
This week, Blockchain.com withdrew from the UK Financial Conduct Authority (FCA) interim registry to license crypto assets. which states that firms must be approved under the Anti-Money Laundering (AML) scheme or stop trading by Thursday. Blockchain.com withdrew its application on Tuesday, opting instead to operate in Europe through a Lithuanian registration. It also became known that BC2C, the institutional provider of cryptocurrency trading, also pulled out of the United Kingdom on March 11, planning instead to conduct its operations through a US legal entity.
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