Blockchain.com reportedly raises new funding on $14B valuation
Cryptocurrency firm Blockchain.com Inc. is reported to have raised new funding at a valuation of $14 billion.
Bloomberg reported today that the round was led by Lightspeed Ventures with Baillie Gifford & Co, also participating. Neither Blockchain.com or the investors has yet confirmed the round publicly.
Founded in 2011, Blockchain.com is best known for providing cryptocurrency wallets and custodial services for tokens such as bitcoin, Ethereum and Litecoin for trading. The company also provides an exchange service that allows users to buy and sell certain types of cryptocurrency.
Blockchain.com’s cryptocurrency wallet is pitched as the easiest and most powerful wallet on the market. The wallets can be used to buy and sell cryptocurrency in minutes, including the ability to buy bitcoin with a credit card, debit card or bank link. Linked to the service is a “rewards account” that offers users up to 13.5% in rewards.
On the exchange side, Blockchain.com supports three fiat currencies and throws in a matching engine “built by and for traders.” The service includes 24/7 live chat support and margin trading.
Blockchain.com also offers institutional services with a full-stack cryptocurrency platform that works with crypto-native businesses and institutional clients on lending, trading and custody solutions.
Currently, the company has 37 million verified users with 82 million wallets with more than $1 trillion transacted across its platform.
Blockchain.com last raised funding in March 2021. The Series C round, led by DST Global, Lightspeed Venture Partners and VY Capital, saw Blockchain.com raise $300 million on a $5.2 billion valuation. The company had previously raised $120 million in a “strategic round” in February 2021.
The news comes as bitcoin and other cryptocurrencies have started rising again after a long winter. Bitcoin surged over the weekend, hitting its highest level since Jan. 2, passing $47,000. Similar gains have been seen with other leading cryptocurrencies.
However, bitcoin still has a long way to go, since it was trading at about $67,000 as recently in early November.
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