London startup Blockchain raises US$40 million in fresh funding

London startup Blockchain raises US$40 million in fresh funding”

It remains to be seen if interest from tech giants like GV will inspire more traditional venture capitalists to take note of cryptocurrency.

Blockchain, the London-based bitcoin currency service provider, has raised $40 million of fresh funding, representing one of the largest investment rounds in the financial technology sector since Britain's vote to leave the European Union. Investor and current board member Jeremy Liew from Lightspeed Venture Partners confirmed, "Blockchain was one of the first digital currency wallets, quickly grew to market leadership, and has only extended its lead since then". And I'm sure other cryptocurrency startups are now raising more funding too. When the startup announced its previous $30 million funding round, it was only managing 2.3 million bitcoin wallets at the time. This brings our total capital raised to over $70 million and we're thrilled to welcome some of the most well-respected investors in the world to the Blockchain family. Bitcoin trade price is close 3000 dollars now. With the majority of staff working in London, the company's official headquarters are in Luxembourg. It provides individuals with a software program and online tools to deposit, exchange, and conduct various transactions with other users. "Blockchain is on a mission to create a financial system that is faster, more inclusive, and radically different than the status quo". It now has a gross expansion of users in up to 140 countries.

Now that Blockchain has $40 million of new "rocket fuel" in its tanks, Smith said, "you can expect new products aimed at allowing anyone to transact, save or hedge digital assets with greater speed, efficiency and control". Banks around the world are also pouring huge amounts of resources into trying to apply the blockchain technology that underpins bitcoin to the mainstream financial world. "We've made significant strides, but we're just getting started". The cash boost will also aid in internal research and development toward new product offerings.

Speaking to CNBC on Thursday, Peter Smith stated that the funding will help meet specific goals the company has.

The gross added value of Blockchain is forecast to be over $176 billion by 2025, exceeding to $3.1 trillion by 2030.

Like this



23 June 2017
Britain's Prince Philip to spend second night in hospital
The Duke was supposed to be accompanying the Queen to Westminster today, but his place has been taken by the Prince of Wales . The palace said Philip was driven to the hospital by private vehicle Tuesday evening on the advice of a physician.

23 June 2017
The Senate Health Care Bill Looks A Lot Like The House's
Republican senators from states that expanded Medicaid, such as Ohio's Rob Portman , want to extend that phase-out to seven years. It is, notably, a "draft" bill , meaning that now Republicans will negotiate among themselves before an expected vote next week.

23 June 2017
Thousands Mourn Otto Warmbier at Ohio Funeral
Doctors last week said Warmbier had suffered severe neurological injuries, for which tests did not conclusively reveal the cause. My executive director, Mickey Bergman, went to North Korea at the end of the year with the support of the Obama administration.

23 June 2017
Combustible cladding found in United Kingdom tower blocks: PM Theresa May
She said local authorities and fire services were taking steps to make affected buildings safe and to inform residents. The Grenfell tragedy has acted as a focal point for anger over local authority funding cuts.

23 June 2017
Cink tied for lead in Memphis, Fowler struggles
Dylan Frittelli shot a 5-under-par 67 on Sunday to win the Lyoness Open at Atzenbrugg, Austria, for his first European Tour title. Phil Mickelson was also in the mix on Sunday, but veered off track with a triple-bogey on the 12th hole to trickle back.

23 June 2017
Senate health care bill: What is in it? Read it here
Mitch McConnell is holding the country's health care hostage in a blacked-out Senate, and millions are rising up in anger. Both of those taxes only apply to individuals making more than $200,000 and married couples making more than $250,000.

23 June 2017
Amicus Therapeutics, Inc. (NASDAQ:FOLD) Quarterly Analysis
In other Amicus Therapeutics news, insider Hung Do sold 29,914 shares of the firm's stock in a transaction on Friday, May 19th. Finally, Guggenheim Capital LLC acquired a new position in Amicus Therapeutics during the fourth quarter worth $1,522,000.

23 June 2017
Tom Cruise & Brendan Fraser 'Mummy' Movies Connection Revealed
However, calling Cruise "the film's secret weapon", Nashawaty explains that the star sells the film's sillier moments. Next up we chatted to Annabelle Wallis , who you might know best from playing Grace Brugess in Peaky Blinders .

23 June 2017
French Defence Minister Sylvie Goulard quits over fake jobs claims
Observers say her decision puts more pressure to resign on Justice Minister Francois Bayrou, the founder and leader of the Modem. Ferrand, who was a minister with responsibility for territorial cohesion, has accepted making the switch.

23 June 2017
Senate GOP health bill cuts Medicaid, ends no-coverage fines
Former Democratic President Barack Obama's signature domestic policy achievement has been a target of Republican wrath for years. Video of the protest shows the protesters being carried away by police officers as they chanted "no cuts to Medicaid ".