Blockchain.com Raises $300 Million Now Valued at $5.2billion

Blockchain.com Raises $300 Million Now Valued at $5.2billion

Blockchain.com a London based cryptocurrency company announced on Wednesday that it has raised $300million in its latest funding round which increased its valuation to $5.2billion. The round was led by DST Global, Lightspeed Venture Partners and VY Capital.
This announcement is coming just weeks after bitcoin rose to a record just shy of $62000 in March 2021. In February, blockchain.com announced it raised about $120 million, with investments from Alphabet Inc’s venture capital unit.
At 31 million verified users across 200 countries and 70 million digital “wallets,” or software used to store bitcoins, blockchain.com is one of the world’s most popular cryptocurrency company in the world. Blockchain.com offers retail trading and a range of services for professional investors like credit, structured products, trading and custody. Between debt and equity, the company has raised $1.5 billion since its inception in 2011, according to Chief Executive Peter Smith.
In what is described by Paul Vigna as a deal that highlights venture capital’s growing willingness to jump back into the bitcoin frenzy, the funding round is the third-largest in the industry’s short history, according to research firm CB Insights.
Blockchain.com also offers other services such as custody and Over-the-counter (OTC) service by creating a broker-dealer network.
According to  Peter Smith the CEO and cofounder of Blockchain.com, the new influx of funding is all about working with late-stage investors and growing rapidly. Well, if growing rapidly is synonymous to improvement in service provision, then users can be assured of an upgrade in service delivery from Blockchain.com

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