Crypto wallet and exchange company Blockchain.com raises $300 million at $5.2 billion valuation
As Coinbase is about to go public in the U.S., another cryptocurrency company is having a blockbuster first quarter of 2021. Blockchain.com, the company behind a popular cryptocurrency wallet, an exchange, a block explorer and more has raised a $300 million Series C round.
If you’ve been paying attention, you may remember that I wrote about Blockchain.com last month. At the time, the company announced a $120 million funding round. In other words, the company is raising once again just a few weeks after its previous funding round.
This time DST Global, Lightspeed Venture Partners and VY Capital are leading the round. Existing investors also participated. Following today’s funding round, the company has reached a post-money valuation of $5.2 billion.
Originally named Blockchain.info, the company first launched a blockchain explorer. If you’re not familiar with the blockchain industry, an explorer lets you enter the hash of any transaction that occurs on a blockchain to get more information — you can retrieve the transaction amount, the number of confirmations, the wallet addresses of the sender and the receiver, etc.
But Blockchain.com is better known for its open-source wallet. The company offers a noncustodial wallet, which means that you’re in control of your private keys. Blockchain.com can’t directly access your funds.
Thirty-one million users have verified their identities on Blockchain.com. The number of active users have tripled over the past 12 months.
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