The company underwent a successful securities offering earlier this year, receiving support from over 6,000 European investors.
Blocktrade, a Luxembourg-based cryptocurrency exchange, has completed a new Series A funding round, raising 22 million euros (US$ 25.8 million). This feat by Blocktrade makes it obvious that key venture capital firms are now looking to add digital asset exchanges to their investment portfolio.
Although Blocktrade has declined to publicly disclose the identities of the investors, it has announced that over private investors from over 33 countries of the world took part in the funding effort.
Blocktrade also explained that the new capital will be deployed towards updating its internal operations, especially as regards fiat onramps, market-making, and security.
The firm also plans to use the fund to develop and implement strategies that will help grow the potential user base, broker and maintain growth-oriented relationships and partnerships with other firms within and beyond the sector.
“Blocktrade is more than a classic crypto exchange: we are building a complete ecosystem around digital assets, which provides our users with much more than just access to trading tools,” remarked Bernhard Blaha, CEO of Blocktrade.
Pan Finance is a print journal and news website providing worldwide intelligence on finance, economics and global commerce. Known for our in-depth analysis and opinion pieces from esteemed academics and celebrated professionals; our readership consists of senior decision makers from across the globe.