CoinList, one of the most trusted crypto listing platforms in the world, is now one of the crypto unicorns in a growing list of key milestones for crypto-centric businesses and businesses.
The platform reached the status after raising an additional $ 100 million in its series round, details disclosed in a press release released show on October 26th.
The financing brought the total value of the financing to over $ 1.5 billion, according to the company, with expansion over the past year being key to that growth.
The Early Backer Accomplice VC led the funding round together with Agman Partners with investments from a large group of companies that already have a strong relationship with CoinList.
“While we have some great US investors, our new investors are mostly active users and partners in the regions where we are growing fastest – Asia, Europe and the Middle East” said CEO Graham Jenkin.
Key participants included Alphemy Capital, CMT Capital, Taavet + Sten, Continue Capital, Fenbushi Capital and GoldenTree Asset Management.
Crypto acceptance and market growth
According to the company, monthly trading volumes averaged $ 1 billion in 2021, with active traders seeing an eight-fold increase as the trading pair available on the exchange increased from four to 67. The company also saw tremendous demand for staking services as staked assets exceeded $ 3 billion. The platform has overseen over $ 130 million that has been paid out to stakers.
CoinList has booked more than $ 370 million in loans across its loan service that are split across multiple crypto assets.
According to the company, the $ 100 million funding will help it expand its ecosystem as it encourages the adoption of cryptocurrencies around the world.
The funds will be used to scale operations, improve customer support and flow into new products. CoinList also hopes the new capital injection will strengthen the company’s coffers in terms of governance and protocol security.