Luxembourg-based crypto exchange Blocktrade concludes $25M funding round
Luxembourg-based Blocktrade has become the Centre of attention as the organisation received major investments from venture capitals
Today where there is a full digitalisation are taking place globally,
Luxembourg-based Blocktrade has become the Centre of attention as the organisation received major investments from venture capitals and hence again it comes to know that cryptocurrency exchange and digital asset start-ups are more likely to be a prime preference of the investment firms and venture capitals.
The organisation has not disclosed the details of the investors but the information regarding amount is quite major in terms of digits where we get to know that across 33 countries participated in the $25.8 Million USD in Series A round of Block-trade.
As per the information, Blocktrade has announced that they will use this Major fundings towards improving the internal operations in the areas of security, fiat onramps and market-making. Adding to that they have also said that they will use the fundings to provide more resources to potential user base increment and will keep an eye on other business partnerships.
Mr. Bernhard Blaha , Who was appointed as the CEO of the Blocktrade in 2020 has said ,
“Block-trade is more than a classic crypto exchange, we are building a complete ecosystem around digital assets, which will provides our users with much more than just access to trading tools”
The time when Blcoktrade came inside the market was 2018 and by the passing of time it was acquired by Cryptix AG, a Swiss venture capital firm which was known for the extreme good command over digital payments.
Under the leadership of Cryptix, Blocktrade got the major security offerings in 2021 and attracted more than 6000 participants.
We can have the idea that Many of the Crypto start-ups have generated billions of Dollars in funding this year and are growing the era of Blockchain and cryptocurrencies among venture capitalists and other Investment firms.
Many of the Cryptocurrency Exchanges are the centre of the focus for almost every Capital investor and private investors. As recently Mercado bitcoin, Bitso , FTX and Pintu generated nearly $1.4 Billion USD in various funding events.