Crypto exchange and token listing platform CoinList has recently announced the completion of its Series A funding round, which raised $100 million from industry investors.
In an official blog post, CoinList noted that the funds will be geared toward scaling its services and operations and supporting its global community of early adopters.
Graham Jenkins, the company’s CEO, commented that the company will look to “deepen” its relationships with its existing community following the fundraising round.
“And our community is truly global. While we have some great U.S. investors, our new investors are mostly active users and partners in the regions where we are growing fastest – Asia, Europe, and the Middle East. We’re very excited to have them join us.” – he added.
The funding round was co-led by one of CoinList’s earliest backers, Accomplice, alongside Agman. It also saw other notable contributions from several top investors, including Access Ventures, Alphemy Capital, CMT Digital, HashKey Capital, and more.
Additionally, the funds will also help CoinList increase its product offerings by launching new features like CoinList Karma and CoinList Governance, which should ultimately increase user participation.
With the recent cash injection, CoinList is currently valued at $1.5 billion, and the company sees this as “a major milestone in [its] mission to accelerate the advancement and adoption of crypto.”
Over the past 12 months, CoinList has witnessed a massive surge in its global user base and revenue as cryptocurrency adoption continues to grow.
More specifically, the coin listing platform has seen its user base grow by 42x globally, 36x in the European Union, and 62x in Asia. CoinList currently has over 4.5 million KYC-approved users scattered across more than 170 countries.
The platform’s monthly trading volume had also hit the $1 billion mark in 2021, with the average monthly traders increasing by up to eight times within the past year.
CoinList has also hosted more than 50 crypto startups, including Acala, Clover Finance, and more, via its CoinList Seed program.
Meanwhile, as the cryptocurrency industry continues to mature, more venture capital firms are investing heavily in promising crypto startups.
A few months ago, Peter Thiel’s VC, Valar Ventures, led a fundraiser for the Austrian crypto trading platform, BitPanda, which saw it raise $263 million.
Ethereum co-founder Vitalik Buterin has warned crypto executives to switch focus to collective security and…
Binance founder Changpeng Zhao warned in a recent interview with CoinDesk that traditional banks may…
Ripple CEO Bradley Garlinghouse is pushing back against the idea that the company’s growing RLUSD…
According to a recent report from a local Chinese publication, Chinese regulators have moved against…
Wall Street staged a sharp recovery following the U.S. midterm elections, reversing earlier losses as…
ADA continues to gain popularity in tokenized real-world assets and institutional blockchain adoption. Petrobras’ move…