Popular crypto wallet Blockchain.com has secured $120 million in a recently-concluded funding round. The crypto wallet provider revealed details of the financing round in a report on the 17th of February.
The funding round was led by macro investors all around the world such as Kyle Bass, Moore Strategic Ventures, Rovida Advisors, and Access Industries. Other participating investors include Lakestar, Lightspeed Venture Partners, Eldridge, GV (aka Google Ventures), and more.
As stated in the announcement, the raised funds would be used to support Blockchain.com’s Institutional Markets business, which is “growing exponentially.” Although the wallet business is Blockchain.com’s main business, the firm said that returns from its institutional business can cover the operating cost of its entire global business.
In the announcement, Blockchain.com noted some of its achievements. Stating how it evolved over the years, the crypto wallet provider added:
“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.”
Blockchain.com CEO Peter Smith said that investors are now attracted to cryptocurrency. He noted that “paradigm shifts like crypto can feel to the world as though they happened overnight.”
Before the recent financing endeavor, Blockchain.com raised $40 million in a Series B funding round. As of 2017, the firm had secured a total of $70 million in previous funding rounds.
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