Cryptocurrency

Liquid.com Closes Funding Round Valuing Crypto Firm at ‘Over $1 Billion’

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Liquid.com is a crypto firm which is owned by Quoine- Japanese crypto exchange. It was launched in September 2018 by Quoine. The main objective of the firm was to provide the users with open access to a “worldwide network of cryptocurrency exchanges.

In the funding round, Liquid.com, it got support from Bitmain and IDG Capital. Yesterday Liquid.com announced that as the Series C round is getting closed, it has reached the valuation mark of 1 Billion USD. This valuation has made the crypto firm the second tech “unicorns in Japan’s startup space.

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IDG was reported to be leading the funding round. Although the firm got support from Bitmain and IDG Capital, it did not reveal the amount they have supported the firm with. The firm plans to use the funds received towards globally developing and expanding the company. A part of the funds will go towards product development and into supporting the security token market, as per the announcement. Further, the CEO of Liquid.com- Mike Kayamori said that the vision of the firm is to create such financial services that they become easily accessible to everyone. The company wants to involve more and more people into the digital asset space, to increase participation.

The firm previously revealed that it has managed to raise over 20 Million USD from venture capital firms. These firms include- JAFCO, SBI, B Dash Ventures, and ULS Group, as per the reports obtained from coin desk.com. Also two years back, the firm raised over 100 Million USD in an Initial Coin Offering ICO. The ICO was “pre-discounted” and “regulated.”

On the other hand, the co-founder of Bitmain- Jihan Wu praised Japan by saying that it is one of the leading nations when it comes to regulating the crypto industry.  He also praised Liquid Group too, when he said that the Group has proven its mettle and called it an “exemplary player.

Looking at the investments of IDG Capital and Bitmain, the former has invested in Coinbase, Circle, and Ripple, and in some startups such as KuCoin and imToken, whereas the latter has invested in Circle, ErisX and EOS developer Block.One.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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