Blocktrade, a Luxembourg-based digital asset exchange, has successfully closed its securities offering earlier at $25.8 million, or 22 million euros, in a Series A round with the participation of private investors across 33 countries.
Blocktrade is Successful in an EU Securities Offering
According to the company, the funding will be used to improve internal operations, including security, fiat onramps, and market-making areas.
Also, the company allocates more resources to growing its potential user base, as well as develop other business partnerships.
Bernhard Blaha, the CEO of Blocktrade, said:
“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.”
Founded in 2018, the exchange was purchased by Cryptix AG, a Swiss venture capital firm that specializes in digital payments. Blocktrade appears to be popular, receiving investments from more than 6,000 investors across Europe.
Blocktrade has become the latest cryptocurrency exchange to receive major backing from venture capitalists, proving that digital asset startups are becoming a prime target for investment funds.
Blockchain and Cryptocurrencies Increasingly Appeal to Venture Capital
As cryptocurrency startups have raised billions of dollars in funding this year, this is also proof that the blockchain and cryptocurrencies industry are increasingly attracting venture capitalists and other private investors.
In addition, exchanges have been catching the most attention. Mercado Bitcoin, Bitso, FTX, and Pintu have been reported to raise nearly $1.4 billion in funding over the past few months.
These companies’ IPO is coming after Coinbase’s massive one in April. This is promoting digital currency trading into mainstream consciousness.
Crypto trading is predicted to increase as more investors have agreed with a two-pronged bull market for Bitcoin (BTC) and other assets.
On Monday, the Bitcoin price exceeded $46,000 amid U.S. lawmakers are working to introduce new amendments focused on crypto for an infrastructure bill that would create more regulation on the sector.