Cryptocurrency platform Blockchain.com introduced Tuesday it has raised $110 million in a brand new funding spherical led by Kingsway Capital. The Sequence E elevate consists of participation from main corporations like Baillie Gifford, Lakestar, LSVP, and Coinbase Ventures.
Kingsway Capital was based by Manny Stotz with $5 billion in property beneath administration.
Blockchain.com launched as Blockchain.information in 2011 as a blockchain explorer software, which let anybody look at bitcoin transactions and supplied an API to allow builders to construct on Bitcoin. The corporate additionally created one of the vital extensively used cryptocurrency wallets, enabling early crypto adopters to extra simply handle their digital property.
Over its decade-plus in operation, Blockchain.com has powered over $1 trillion in lifetime transactions and at this time serves greater than 90 million crypto wallets. It has beforehand raised $490 million in enterprise capital funding, together with $300 million in March 2021.
The brand new funding spherical comes regardless of a number of months of a crypto bear market, triggered by the cascading collapse of a number of main corporations together with FTX. Blockchain.com mentioned its income has nonetheless grown 1,500% in the final 4 years, outpacing the broader business.
As a part of the deal, Stotz and Lakestar associate Nicolas Model will be a part of Blockchain.com’s board of administrators. Model spent the final 20 years in the finance business and builds companies on the intersection of finance, blockchain, and expertise.
The corporate holds licensing throughout a number of jurisdictions to make sure regulatory compliance amid ongoing authorities scrutiny of cryptocurrencies.