Bitcoin Exchange BTSE Lands Fresh Funding at $400 Million Valuation

Cryptocurrency exchange BTSE has raised $22 million in its series A investment round at a valuation of $400 million.

BTSE to Build a “Digital Bank”

The latest series A funding round which ended on Jan. 31, 2021, saw participation from various investors, including family offices whose names have not been disclosed.

“The primary investor is a leading family office based in Hong Kong,” announced the British Virgin Islands (BVI)-based exchange in a media release.

The exchange added that it intended to leverage the latest funding to build a digital bank that bridges traditional and digital asset investors. 

“Investment is, of course, critical as we transform into a comprehensive digital bank encompassing both fiat and cryptocurrencies, and to have achieved a $400 million valuation on the basis of recent funding attests to this vision,” stated Jonathan Leong, co-founder and CEO of BTSE.

Founded in 2018, BTSE trades the top cryptocurrencies through spot and futures markets and offers a native exchange token–BTSE.  The platform also lets investors earn up to 8% interest through its Earn product.

In Jan. 2021, BTSE showed off its in-house development capabilities as it became the first crypto project to issue a Monero-backed token on Ethereum known as Wrapped Monero (WXMR).

The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.

You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.

See full terms and conditions.

Source: Read Full Article