Bitcoin technology company Blockstream has raised $210 million through convertible debt financing in its latest funding round.
Blockstream said in a statement on Tuesday that Flugur Ventures, a venture capital firm specializing in cryptocurrencies, led the funding. In addition to expanding its mining operations, the company plans to use the funds to build layer 2 solutions.
Dr. Adam Back, co-founder and CEO of Blockstream, said: “We are entering an important new phase of growth to further bridge the gap between Bitcoin and the broader financial world. “This latest funding represents a defining moment for Blockstream as we embark on this journey.”
As the leading developer of the Bitcoin network, Blockstream offers a variety of Layer 2 solutions, including Liquid Network and other tools, that enable businesses and traders to securely trade digital assets, according to the company. Masu.
Blockstream said in a statement that more than $1.8 billion in assets, including tokenized securities and stablecoins, have been issued on Liquid since 2018.
The company's technology is also used to power Bitfinex's tokenized securities products, among other major blockchain-based products.
This latest funding comes after Blockstream launched Series 3 of Bitcoin Mining Notes (BMN) 2 in September. The Bitcoin Mining Note (BMN) 2 is a security token that provides direct exposure to the Bitcoin hash rate, potentially yielding higher returns for investors. This also follows the company's rollout last year of a scalable, non-custodial Lightning network integration called Greenlight.
Edited by Andrew Hayward
daily report meeting Newsletter
Start each day with the current top news stories, plus original features, podcasts, videos, and more.
