Blockchain.com valued at $14bn following funding round

This makes Blockchain.com one of the most valuable crypto companies in the world

The Blockchain.com app on a smartphone screen                                 
Blockchain.com is a leading player in the crypto world - Photo: Alamy
                                

Blockchain.com, the cryptocurrency exchange and financial services company that claims to be the “world’s oldest and most popular crypto platform,” has announced that after receiving some new funding, the company is now valued at $14bn (£10.66bn).

Following this valuation, Blockchain.com becomes one of the most valuable crypto companies in the world.

The funding round was led by Lightspeed Venture Partners, a global venture capital firm, with Baillie Gifford, an asset manager, also playing a key role, Bloomberg reports.

Blockchain.com was founded in 2011 as a bitcoin (BTC) blockchain explorer.

In November 2021, Blockchain.com had a $5.2bn (£3.9bn) valuation. Additionally, the platform states it has “more than 37 million verified accounts and 82 million wallets across more than 200 countries”.

Largest crypto firm in Latin America

Also in November 2021, Blockchain.com acquired SeSocio, one of the largest crypto companies in Argentina, to make it the largest crypto company in Latin America.

The company was already a crypto leader in Argentina, Brazil, Chile, Colombia and Mexico, and following this acquisition, the company announced it will launch its physical presence in those countries by opening offices and starting local hiring.

“Latin America presents one of the largest growth opportunities in crypto over the coming decade,” said Blockchain.com CEO Peter Smith at the time.

“Millions have already seen inflation at its worst, new currencies emerge out of thin air, and experienced political instability – creating a favourable environment for crypto. With the SeSocio team, we aim to provide every Latin American with access to a global crypto platform,” said Smith.

Available in 30 US states

Towards the end of 2021, Blockchain.com expanded into two more US states, Georgia and North Dakota. This meant the crypto platform was now available in 30 out of the 50 US states, with plans to open product availability to all US states through individual licence approvals.

In November 2021, Blockchain.com launched its services in the US states of Michigan, Oklahoma, Iowa and South Dakota. During the whole of 2021, the company also expanded into Alaska, Delaware, Illinois, Oregon, New Hampshire and New Mexico.

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