Business

Blockchain raises $300 million, stands now at $5.2 billion

By Sarah Abraham

On Wednesday, Cryptocurrency firm Blockchain.com announced that it had grown $300 million in its recent funding round and now stands at a valuation of $5.2 billion.

The London-based company said that the round was led by partners of DST Global, Lightspeed Venture Partners, and VY Capital.

Blockchain.com offers services like digital wallets for the storage of cryptocurrencies, retail trading, and other services for larger investors.

Bitcoin climbed to a record slightly less than $62,000 this month as mainstream firms and investors increasingly embrace cryptocurrencies, which led to an increase in the valuation of related companies.

With investment from Alphabet Inc’s venture capital unit, Blockchain.com raised about $120 million.

Tags: $300 million Bitcoin BlockChain Blockchain.com Cryptocurrency

Sarah Abraham

Sarah Abraham is a graduate in Journalism - Mass Media. A media enthusiast who has a stronghold on communication and content writing. She is committed to high-quality research and writing. Sarah is currently working as an aspiring journalist at USAnewshour.com and can be reached at sarahabrahamk1011@gmail.com.