Crypto wallet Blockchain.com raises $120 million in latest funding round

(Reuters) – Blockchain.com, a provider of cryptocurrency services, has raised about $120 million in its latest funding round, which included investments from Alphabet Inc’s venture capital unit, GV, the company said on Wednesday.

The company did not disclose the valuation at which the funds were raised.

London-based Blockchain.com said about 28% of all bitcoin transactions since 2012 have been routed through its platform, making it one of the major players in the cryptocurrency market.

Bitcoin, the world’s most popular cryptocurrency, rose above $50,000 on Tuesday for the first time, adding steam to a rally fueled by signs that it was gaining acceptance among mainstream investors and companies.

Its latest surge has also been powered by Tesla Inc after the electric carmaker said it had bought $1.5 billion in bitcoin and would accept the cyrptocurrency as mode of payment.

Other investors in the funding round included hedge fund manager Kyle Bass, industrial group Access Industries and investment firms Moore Strategic Ventures, Rovida Advisers and Lightspeed Venture Partners, the company said. (bit.ly/3pubFaa)

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