The valuation of Blockchain.com has been raised to a whopping $14 billion after securing an undisclosed amount in funding.
Blockchain.com, a cryptocurrency exchange, and financial services company, has reportedly obtained new capital valued at $14 billion.
According to Bloomberg, Lightspeed Ventures, a worldwide venture capital firm, and Baillie Gifford & Co., an investment management business known for its early involvement in growth stocks like Tesla, led the financing round.
The firms’ valuation reportedly increased from $5.2 billion to $14 as a result of the investment round, which has yet to be formally acknowledged by Blockchain.com or the investors. The overall amount of money raised has not yet been revealed.
Blockchain.com, which was founded in 2011, is currently one of the world’s top cryptocurrency enterprises, with a wide range of blockchain-based financial services ranging from its exchange platform and crypto wallets to specific institutional products. It has 37 million verified users, 82 million wallets, and a cumulative transaction value of over $1 trillion on its network.
Blockchain.com made headlines in April of last year by getting a $100 million investment from Baillie Gifford & Co., which was the single largest investment in the company at the time.
The most recent major investment round for the crypto exchange was in March 2021, when the company raised $300 million at a valuation of $5.2 billion in the Series C round. DST Global, Lightspeed Venture Partners, and VY Capital led the investment round. Before this, the company had been raising $120 million from a variety of VC firms, with the money primarily going toward institutional business development.
Blockchain.com was added to the list of organizations withdrawing from the UK Financial Conduct Authority’s (FCA) provisional register for crypto-asset licensing this week, which stipulates that firms either be certified under an anti-money-laundering (AML) scheme or cease trading by March 31.
On March 29, Blockchain.com withdrew its application, opting instead to operate in Europe under a Lithuanian registration. BC2C, an institutional cryptocurrency trading firm, also withdrew from the UK on March 11, opting to run its business through a US corporation instead.