Bulletin of the Institution: Bitso crypto exchange raised $250 million, and Coin Metrics – $15 million from Goldman Sachs

The cryptocurrency industry is attracting an increasing number of institutional players. This is evidenced by new investments in infrastructure, and the increasing attention that companies are showing to bitcoin as an asset class. The most important events of the last weeks are in the ForkLog review.

Bitso Bitcoin Exchange raises $250 million

Latin America’s largest cryptocurrency exchange Bitso has raised $250 million in a Series C funding round. Investors valued the company at $2.2 billion.

The round was led by Tiger Global and Coatue Management with the participation of Paradigm, BOND, Valor Capital Group, QED Ventures, Pantera Capital and Kaszek Ventures.

The company will use the funds raised to expand in South America and develop new products. In particular, Bitso will launch a crypto-derivative platform based on the previously acquired Quedex.

The exchange serves the accounts of 2 million customers. The number of its users has doubled in the last 10 months. According to Bitso’s own data, it owns more than 95% of the crypto market in Mexico and more than 60% in Argentina.

NFT game developer Animoca Brands raises $88.9 million from the Rothschild Foundation

Hong Kong-based non-fungible token (NFT) game developer Animoca Brands has raised $88.9 million from the Rothschild Dynasty fund RIT Capital Partners, Huobi and other investors.

As part of the transaction, the company sold the newly issued shares at a price of $0.85 per share. According to the results of the financing round, the capitalization of Animoca Brands was estimated at $1 billion.

Fresh capital will allow the studio to continue its aggressive growth. The money will be used to develop new products, secure licensing rights for games, as well as further acquisitions and strategic investments.

In honor of joining the unicorn club, Animoca Brands will release a special NFT for investors and key partners.

PolySign blockchain Company Founded by Ripple Co-founder raises $53 million

Founded by Ripple co-founder Arthur Britto, PolySign has closed a $53 million Series B funding round. It was headed by the American bank Cowen with a strategic investment of $23 million with the participation of Blockchain.com, Race Capital, Sandia Holdings, and PilotRock Investments.

PolySign will use the raised capital to accelerate the development of institutional-level blockchain applications for storing and managing cryptocurrencies.

Custodian Copper raised $50 million in funding

London-based custodial service Copper has raised $50 million in a Series B funding round. It was led by the investment company Target Global and the venture capital fund Dawn Capital.

Copper will direct funds to the global expansion. The company will open regional offices in the United States and Asia, triple the number of employees, and invest some of the money in the development of new products.

According to the service, Copper services are used by more than 200 bitcoin exchanges, funds, payment firms and other market participants. Since the third quarter of 2020, the value of assets under the company’s management has increased more than 40 times.

Hashdex raises $26 million from Coinbase and SoftBank

The Brazilian asset management company Hashdex has raised $26 million from Valor Capital with the participation of SoftBank, Coinbase Ventures and other investors.

The funding will be used for expansion abroad. By the end of 2021, Hashdex plans to open new offices and expand its staff from 25 to 100 employees.

DeFi – dashboard Zapper raised $15 million from Mark Cuban and other investors

DeFi-dashboard Zapper raised $15 million in a Series A funding round. It was led by Framework Ventures with the participation of Mark Cuban, Libertus Capital, Coinbase Ventures, Spartan Group, DeFiance Capital, Long Hash, Sino Global, ParaFi Capital and others.

The startup will use the received funding to launch a mobile app and a marketplace for developers. According to the head of Zapper, Seb Odet, this will allow the community to quickly implement new features and keep up with the actively expanding DeFi ecosystem.

Coin Metrics raises $15 million from Goldman Sachs

The analytical firm Coin Metrics raised $15 million. The Series B funding round was led by investment bank Goldman Sachs with participation from Acrew Ventures, BlockFi, Morningside Group and Warburg Serres Investments and previous investors.

The funds received by Coin Metrics will be used for global expansion, expansion of the number of supported blockchains and markets, and improvement of the product line.

NFT startup RTFKT Studios raised $8 million from Andreessen Horowitz and Galaxy Digital

RTFKT Studios, a startup specializing in creating NFT, has raised $8 million in a seed funding round.

The investment round was led by the Andreessen Horowitz venture fund. The startup was also supported by Galaxy Digital, Ledger, Dapper Labs CEO Roham Garegozlow, C Ventures, Shrug Capital, NFT creator Fewocious, Genies founder Akash Nigam, and others.

The funds raised by RTFKT will be used to develop new tools for creating NFT, hiring artists and other content creators. The startup also invests in the development of the ecosystem.

The authors of the NFT game Axie Infinity raised $7.5 million from Mark Cuban and other investors

Sky Mavis, which created the NFT game Axie Infinity, has raised $7.5 million in a Series A funding round.

The round was led by Libertus Capital. Billionaire Mark Cuban, Reddit co-founder Alexis Ohanian, Collab + Currency, DeFi Alliance, Animoca Brands, BlockTower Capital and others also took part in the event.

Sky Mavis will direct the received funding to the integration of the Ronin sidechain for Ethereum in order to reduce the entry threshold for players. The studio will also attract the most experienced developers from the traditional game world to increase the” fun ” of Axie Infinity.

The studio claims that the daily audience of the NFT game is 41,000 users, and the monthly volume of trading in non-interchangeable tokens is $15 million.

dTrade Derivatives platform on Polkadot raised $6.4 million from Polychain and Huobi

Polkadot-based decentralized perpetual contract trading platform dTrade has raised $6.4 million.

Three Arrows, DeFiance, Huobi, Polychain, ParaFi Capital, Mechanism Capital, Magic Ventures, Bixin Ventures, IOSG Ventures, Hypersphere Ventures, Chicago DeFi Alliance, LongHash Ventures, Alameda Research, Fenbushi Capital and others participated in the seed funding round.

dTrade positions itself as the first AMM-based DeFi protocol on the Polkadot network. The platform is expected to launch in June. By the end of 2021, developers will integrate ZK-Rollup for instant transactions.

In June, the team will distribute the native DET token. 45% of the offer will be sent to investors, advisors and the team, 55% – to reserves and to the fund for stimulating liquidity providers.

Decentralized exchange ParaSwap raised $3 million

ParaSwap, a liquidity aggregator from decentralized exchanges, has raised $3 million in additional seed funding.

The round was attended by Blockchain Capital, White Star Capital and DeFi Alliance, as well as the founders of Yearn Finance, Curve Finance and Dune Analytics — Andre Cronje, Mikhail Egorov and Fredrik Haga, respectively.

The ParaSwap team will use the funds raised to implement support for alternative blockchains such as Avalanche, Arbitrum, Fantom and implement various second-level scaling solutions, including ZkSync and Optimism.

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