Blockchain.com has become one of the most valuable cryptocurrency platforms after it closed its latest funding round at a valuation of around $14 billion, according to a Bloomberg report.
The financing round was led by Lightspeed Venture Partners and Baillie Gifford & Co who also participated in the round. Both of them were existing investors in the crypto company.
However, the startup has not confirmed anything officially, and the funding amount is not known yet.
Founded in 2011, Blockchain.com has turned itself into a major crypto platform over the years. According to its website, it has 37 million verified users with 82 million wallets and has handled more than $1 trillion in transactions. Last year, the company moved its US headquarters from New York to Miami.
A Well-Funded Crypto Company
The latest valuation is a significant jump from the company’s $5.2 billion valuation that was achieved in March last year when the company raised $300 million. That round included Lightspeed and VY Capital as investors.
But, the single largest investment into the crypto company came from Baillie Gifford at $100 million last April.
Though originally a British company, Blockchain.com’s name came up in the list of the crypto companies withdrawing from the UK Financial Conduct Authority’s (FCA) temporary register for licensing. Those requirements wanted the company to be approved under an anti-money-laundering (AML ) scheme or cease trading by 31 March.
Blockchain.com withdrew its application on 29 March and is going to operate in Europe with its Lithuanian license.
Meanwhile, other competitors of Blockchain.com are getting massive valuations. Global FTX, led by crypto billionaire Sam Bankman-Fried, hit $25 billion for its valuation, whereas its US affiliate was valued at $8 billion. However, the valuation of Binance, which is the largest global crypto exchange in terms of trading volume, is not known.
