A month ago, Blockchain.com reported completing a $ 120 million funding round. And, just yesterday, the crypto giant announced that it raised another $ 300 million to reach a subsequent valuation of $ 5.2 billion.
A month ago the valuation of Blockchain.com was USD 3 billion, today that valuation has increased by 73%.
According to the press release, DST Global, Lightspeed Venture Partners, and VY Capital lead the round, and it is established as the third-largest fundraising round in the crypto industry.
In fact, the sum raised by Blockchain.com is equal to that raised in a single round by Bakkt in March 2020. It is only below the $ 350 million of BlockFi and the $ 400 million of Bitmain Technologies.
According to Yahoo Finance, Blockchain.com CEO Peter Smith said the crypto firm has managed to raise $ 1.5 billion since its founding as institutional interest continues to rise.
Crypto signature details
Although it is one of the most recognized crypto firms in the industry, we must also recognize that in recent months new crypto investors have been incorporated.
In this regard, it is worth remembering that Blockchain.com was initially Blockchain.info. Basically the company launched itself as a block explorer.
It was later transformed and is now widely known for its open source wallet. Therefore, Blockchain.com offers crypto users to have a non-custodial wallet and, as we know, this implies that the user is solely responsible for their private keys.
During the last few years, the platform has seen a significant increase in customers. In fact, it reported that 31 million users have verified their identities on Blockchain.com. And the number of active users has tripled in the last 12 months.
«I think that’s really driven by the fact that experienced and sophisticated investors are seeing for the first time not only consumers in the crypto market, but institutions as well. And when they see a business like ours that is profitable for both the consumer and the consumer, they want to be part of that growth story.Smith explained to Yahoo Finance.
Without a doubt, this is an excellent year for the crypto industry. Especially when we consider that in 2021 there have been three of the six largest capital raises in the crypto industry.