Crypto wallet Blockchain.com raises US$120 million in latest funding round

The company did not disclose the valuation at which the funds were raised.

London-based Blockchain.com said about 28per cent of all bitcoin transactions since 2012 have been routed through its platform, making it one of the major players in the cryptocurrency market.

Bitcoin, the world’s most popular cryptocurrency, rose above US$50,000 on Tuesday for the first time, adding steam to a rally fueled by signs that it was gaining acceptance among mainstream investors and companies.

Its latest surge has also been powered by Tesla Inc after the electric carmaker said it had bought US$1.5 billion in bitcoin and would accept the cyrptocurrency as mode of payment.

Other investors in the funding round included hedge fund manager Kyle Bass, industrial group Access Industries and investment firms Moore Strategic Ventures, Rovida Advisers and Lightspeed Venture Partners, the company said.

Copyright @ 2021 Thomson Reuters

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