Initial coin offering platform provider CoinList Capital LLC today said it has raised $10 million in new funding to launch a new exchange platform.

The money came from Twitter Inc. and Square Inc. Chief Executive Officer Jack Dorsey, Collaborative Fund and Polychain Capital.

Founded in 2017 as a spinoff from AngelList, CoinList primarily offers a cloud-based platform for digital asset companies to run token sales. The company goes further than providing a platform, also helping ICO companies navigate regulatory rules around token raises as well. That’s not a simple task given that the U.S. Securities and Exchange Commission’s ongoing legal actions against companies raising money using the nontraditional method.

Notable companies that have raised money via ICOs and related distributions using CoinList include Blockstack, Algorand, Filecoin and Dfinity. According to Coindesk, CoinList is legal in 38 U.S. states and some international jurisdictions. The company has assisted companies in raising $800 million via token offerings to date.

“Crypto needs a trustworthy platform for launching new projects,” Dorsey told The Wall Street Journal. “CoinList leads the industry in that role, and trading is a logical next step.”

Dorsey is a longstanding supporter of cryptocurrencies, bitcoin in particular. In 2018, Dorsey predicted that bitcoin will be the sole global currency in 10 years. Dorsey’s payment services firm Square has also strongly backed bitcoin, having obtained a New York Bitlicence in June 2018 and then offering support for the cryptocurrency, a profitable venture for the company.

CoinList is not Dorsey’s first investment in cryptocurrency and blockchain. He also invested in MTonomy, a startup that’s building a blockchain platform for digital media content and Lightning Labs, a startup looking to speed up existing blockchain platforms.

Dorsey’s love of cryptocurrency only goes so far, however, since he’s a vocal critic of Facebook Inc.’s Libra. When asked whether Twitter would consider joining the Libra Association at an event in New York City earlier this week, Dorsey responded by saying, “Hell no.”

On Facebook’s claims that Libra was about democratizing the financial system, Dorsey added, “I don’t know if it’s a gimmick… but a cryptocurrency wasn’t necessary to make that work.”

Including the new funding, CoinList has raised $19.2 million to date. Previous investors include Digital Currency Group, CoinFund, Electric Capital, FBG Capital and Libertus Capital.

Image: Coinlist