<bi-shortcode id="summary-shortcode" data-type="summary-shortcode" class="mceNonEditable" contenteditable="false">Summary List Placement</bi-shortcode><p>The London-based crypto startup has secured $120 million in funding from investors including Moore Strategic Ventures, Kyle Bass, Access Industries, and Rovida Advisors, <a href="https://e.insiderintelligence.com/click/22979263.4/aHR0cHM6Ly90ZWNoY3J1bmNoLmNvbS8yMDIxLzAyLzE3L2NyeXB0by13YWxsZXQtYW5kLWV4Y2hhbmdlLWNvbXBhbnktYmxvY2tjaGFpbi1jb20tcmFpc2VzLTEyMC1taWxsaW9uLw/5d233c18f730436f2414784fB3e71d840" target="_blank" rel="noopener" data-saferedirecturl="https://www.google.com/url'q=https://e.insiderintelligence.com/click/22979263.4/aHR0cHM6Ly90ZWNoY3J1bmNoLmNvbS8yMDIxLzAyLzE3L2NyeXB0by13YWxsZXQtYW5kLWV4Y2hhbmdlLWNvbXBhbnktYmxvY2tjaGFpbi1jb20tcmFpc2VzLTEyMC1taWxsaW9uLw/5d233c18f730436f2414784fB3e71d840&source=gmail&ust=1613826535870000&usg=AFQjCNFuCOajRHMEE5V_9c9QuAr5CVmkeA"><u>per</u></a> TechCrunch.</p><p><img class="center" src="https://static2.businessinsider.com/image/602fc4f77b571500189f63c5-1463/Global private investment in blockchain and cryptocurrency.png" border="0" alt="Global private investment in blockchain and cryptocurrency" data-mce-source="Insider Intelligence"></p><p>The startup hasn't revealed its valuation, but its funding to date now stands at $190 million. Blockchain.com operates an open-source Bitcoin wallet and supports cryptocurrencies as well as stablecoins, with services for consumers and <a href="https://e.insiderintelligence.com/click/22979263.4/aHR0cHM6Ly93d3cuYmxvY2tjaGFpbi5jb20vaW5zdGl0dXRpb25hbA/5d233c18f730436f2414784fBde22e81c" target="_blank" rel="noopener" data-saferedirecturl="https://www.google.com/url'q=https://e.insiderintelligence.com/click/22979263.4/aHR0cHM6Ly93d3cuYmxvY2tjaGFpbi5jb20vaW5zdGl0dXRpb25hbA/5d233c18f730436f2414784fBde22e81c&source=gmail&ust=1613826535870000&usg=AFQjCNGfGQyO-_JayHUNtAVAnMRCdDzTqw"><u>institutions</u></a>. It will use the fresh capital to boost its offering for institutional investors.</p><p>Blockchain.com has established itself as a leading crypto startup, and its recent product suite expansion has likely further accelerated its growth. The startup supports 67 million walletsfor context, Coinbase has <a href="https://e.insiderintelligence.com/click/22979263.4/aHR0cHM6Ly93d3cuZmluYW5jZW1hZ25hdGVzLmNvbS9jcnlwdG9jdXJyZW5jeS9leGNoYW5nZS9jb2luYmFzZS1oYXMtNDMtbWlsbGlvbi11c2Vycy05MC1iaWxsaW9uLWluLXBsYXRmb3JtLWFzc2V0cy8/5d233c18f730436f2414784fBdfa213f7" target="_blank" rel="noopener" data-saferedirecturl="https://www.google.com/url'q=https://e.insiderintelligence.com/click/22979263.4/aHR0cHM6Ly93d3cuZmluYW5jZW1hZ25hdGVzLmNvbS9jcnlwdG9jdXJyZW5jeS9leGNoYW5nZS9jb2luYmFzZS1oYXMtNDMtbWlsbGlvbi11c2Vycy05MC1iaWxsaW9uLWluLXBsYXRmb3JtLWFzc2V0cy8/5d233c18f730436f2414784fBdfa213f7&source=gmail&ust=1613826535870000&usg=AFQjCNFZBlrxP0z5VhrXP8sPJrS2TCYiDw"><u>43 million</u></a> usersand has <a href="https://e.insiderintelligence.com/click/22979263.4/aHR0cHM6Ly93d3cuYmxvY2tjaGFpbi5jb20v/5d233c18f730436f2414784fB14310748" target="_blank" rel="noopener" data-saferedirecturl="https://www.google.com/url'q=https://e.insiderintelligence.com/click/22979263.4/aHR0cHM6Ly93d3cuYmxvY2tjaGFpbi5jb20v/5d233c18f730436f2414784fB14310748&source=gmail&ust=1613826535870000&usg=AFQjCNFdUeL4ofQeD3y_6mcAzbCt9hnEDg"><u>facilitated</u></a> over $620 billion in transactions since 2013.</p><p>Additionally, since 2012, 28% of all Bitcoin transactions have been sent or received by a Blockchain.com-managed wallet. In March 2020, the startup launched crypto lending for all users, after <a href="https://e.insiderintelligence.com/click/22979263.4/aHR0cHM6Ly93d3cuZmluYW5jZW1hZ25hdGVzLmNvbS9jcnlwdG9jdXJyZW5jeS9uZXdzL2Jsb2NrY2hhaW4tY29tLWxhdW5jaGVzLWNyeXB0by1sZW5kaW5nLXNlcnZpY2VzLWZvci1pbnN0aXR1dGlvbnMv/5d233c18f730436f2414784fB6f65f767" target="_blank" rel="noopener" data-saferedirecturl="https://www.google.com/url'q=https://e.insiderintelligence.com/click/22979263.4/aHR0cHM6Ly93d3cuZmluYW5jZW1hZ25hdGVzLmNvbS9jcnlwdG9jdXJyZW5jeS9uZXdzL2Jsb2NrY2hhaW4tY29tLWxhdW5jaGVzLWNyeXB0by1sZW5kaW5nLXNlcnZpY2VzLWZvci1pbnN0aXR1dGlvbnMv/5d233c18f730436f2414784fB6f65f767&source=gmail&ust=1613826535870000&usg=AFQjCNGrYR__zGPyQeZ1FuomyFiNpG2PHg"><u>previously</u></a> limiting it to institutional investors only. With the service, users can borrow Paxos Standard stablecoinone of the US' major stablecoinsagainst Bitcoin. Blockchain.com plans to expand the service to other assets in the future.</p><p>The round comes as part of a revival in blockchain fundingand institutional investors' interest in crypto is a major driver.</p><ul><li><strong>While blockchain funding remained low in H1 2020, likely due to pandemic-related uncertainty, interest in the segment has picked up significantly since then. </strong>In H1 2020, crypto startups <a href="https://e.insiderintelligence.com/click/22979263.4/aHR0cHM6Ly9jb250ZW50LW5hMS5lbWFya2V0ZXIuY29tL2dsb2JhbC1ibG9ja2NoYWluLWZ1bmRpbmctYW5kLWRlYWwtY291bnQtaGVsZC1zdGVhZHlpbi1oMS0yMDIwLWFzLWNhdXRpb3VzLWludmVzdG9ycy1mb2N1c2VkLW9uLW1hdHVyZS1jcnlwdG8tZmludGVjaHMtZHJpdmluZy1yZWFsLXZhbHVlLTIwMjAtOQ/5d233c18f730436f2414784fB493e118a" target="_blank" rel="noopener" data-saferedirecturl="https://www.google.com/url'q=https://e.insiderintelligence.com/click/22979263.4/aHR0cHM6Ly9jb250ZW50LW5hMS5lbWFya2V0ZXIuY29tL2dsb2JhbC1ibG9ja2NoYWluLWZ1bmRpbmctYW5kLWRlYWwtY291bnQtaGVsZC1zdGVhZHlpbi1oMS0yMDIwLWFzLWNhdXRpb3VzLWludmVzdG9ycy1mb2N1c2VkLW9uLW1hdHVyZS1jcnlwdG8tZmludGVjaHMtZHJpdmluZy1yZWFsLXZhbHVlLTIwMjAtOQ/5d233c18f730436f2414784fB493e118a&source=gmail&ust=1613826535870000&usg=AFQjCNH5JBbN1DaG0K-apyclvwCWVLLJiQ"><u>raised</u></a> just $1.2 billion, barely topping the $1.0 billion raised in H1 2019. However, since then investors have been busy pouring money into blockchain startups: Chainalysis <a href="https://e.insiderintelligence.com/click/22979263.4/aHR0cHM6Ly93d3cucHJuZXdzd2lyZS5jb20vbmV3cy1yZWxlYXNlcy9jaGFpbmFseXNpcy1yYWlzZXMtMTAwLW1pbGxpb24tYXQtb3Zlci0xLWJpbGxpb24tdmFsdWF0aW9uLXRvLWV4cGFuZC1pdHMtZ2xvYmFsLXJlZ3VsYXRvcnktcGxhdGZvcm0tZm9yLXN1cmdpbmctY3J5cHRvY3VycmVuY3ktbWFya2V0LTMwMTE3OTE1Ni5odG1s/5d233c18f730436f2414784fB7ec1d50b" target="_blank" rel="noopener" data-saferedirecturl="https://www.google.com/url'q=https://e.insiderintelligence.com/click/22979263.4/aHR0cHM6Ly93d3cucHJuZXdzd2lyZS5jb20vbmV3cy1yZWxlYXNlcy9jaGFpbmFseXNpcy1yYWlzZXMtMTAwLW1pbGxpb24tYXQtb3Zlci0xLWJpbGxpb24tdmFsdWF0aW9uLXRvLWV4cGFuZC1pdHMtZ2xvYmFsLXJlZ3VsYXRvcnktcGxhdGZvcm0tZm9yLXN1cmdpbmctY3J5cHRvY3VycmVuY3ktbWFya2V0LTMwMTE3OTE1Ni5odG1s/5d233c18f730436f2414784fB7ec1d50b&source=gmail&ust=1613826535870000&usg=AFQjCNHeqtRztllIbvq8z057TdupN6RS3w"><u>raised </u></a>$100 million last November, BlockFi <a href="https://e.insiderintelligence.com/click/22979263.4/aHR0cHM6Ly9ibG9ja2ZpLmNvbS9ibG9ja2ZpLXJhaXNlcy01MG0tc2VyaWVzLWMtbGVkLWJ5LW1vcmdhbi1jcmVlay1kaWdpdGFs/5d233c18f730436f2414784fBd1ac5659" target="_blank" rel="noopener" data-saferedirecturl="https://www.google.com/url'q=https://e.insiderintelligence.com/click/22979263.4/aHR0cHM6Ly9ibG9ja2ZpLmNvbS9ibG9ja2ZpLXJhaXNlcy01MG0tc2VyaWVzLWMtbGVkLWJ5LW1vcmdhbi1jcmVlay1kaWdpdGFs/5d233c18f730436f2414784fBd1ac5659&source=gmail&ust=1613826535870000&usg=AFQjCNFYxNsSLHzc8Grs0dxPqalza_Vx1A"><u>netted</u></a> $50 million in August, and Wintermute <a href="https://e.insiderintelligence.com/click/22979263.4/aHR0cHM6Ly9hdS5maW5hbmNlLnlhaG9vLmNvbS9uZXdzL3dpbnRlcm11dGUtcmFpc2VzLTIwbS1zZXJpZXMtYi0xNDAwMDA5MTkuaHRtbA/5d233c18f730436f2414784fB70b4fe94" target="_blank" rel="noopener" data-saferedirecturl="https://www.google.com/url'q=https://e.insiderintelligence.com/click/22979263.4/aHR0cHM6Ly9hdS5maW5hbmNlLnlhaG9vLmNvbS9uZXdzL3dpbnRlcm11dGUtcmFpc2VzLTIwbS1zZXJpZXMtYi0xNDAwMDA5MTkuaHRtbA/5d233c18f730436f2414784fB70b4fe94&source=gmail&ust=1613826535870000&usg=AFQjCNE_Ov7oNfW_q5_c7blfRjKnpFmmNA"><u>secured</u></a> $20 million in February. At this pace, it's likely that 2021 will be a new record year, partly fueled by banks and venture capitalists <a href="https://e.insiderintelligence.com/click/22979263.4/aHR0cHM6Ly9jb250ZW50LW5hMS5lbWFya2V0ZXIuY29tL3NpYW0tY29tbWVyY2lhbC1iYW5rLXRhcmdldHMtYmxvY2tjaGFpbi1kaWdpdGFsLWFzc2V0LXN0YXJ0dXBzLXZhbHVhdGlvbnMtc29hcg/5d233c18f730436f2414784fB36b8a80b" target="_blank" rel="noopener" data-saferedirecturl="https://www.google.com/url'q=https://e.insiderintelligence.com/click/22979263.4/aHR0cHM6Ly9jb250ZW50LW5hMS5lbWFya2V0ZXIuY29tL3NpYW0tY29tbWVyY2lhbC1iYW5rLXRhcmdldHMtYmxvY2tjaGFpbi1kaWdpdGFsLWFzc2V0LXN0YXJ0dXBzLXZhbHVhdGlvbnMtc29hcg/5d233c18f730436f2414784fB36b8a80b&source=gmail&ust=1613826535870000&usg=AFQjCNGVPQNyOJcdX5fEGfkOxCplf-DmxA"><u>launching</u></a> funds dedicated to the crypto segment.</li><li><strong>This renewed interest owes partly to increased institutional investor demand for crypto services, and Blockchain.com is in a good position to benefit from this trend. </strong>Insider Intelligence <a href="https://e.insiderintelligence.com/click/22979263.4/aHR0cHM6Ly9jb250ZW50LW5hMS5lbWFya2V0ZXIuY29tL2ZpbnRlY2gtcHJlZGljdGlvbnMtMjAyMQ/5d233c18f730436f2414784fB3726c000" target="_blank" rel="noopener" data-saferedirecturl="https://www.google.com/url'q=https://e.insiderintelligence.com/click/22979263.4/aHR0cHM6Ly9jb250ZW50LW5hMS5lbWFya2V0ZXIuY29tL2ZpbnRlY2gtcHJlZGljdGlvbnMtMjAyMQ/5d233c18f730436f2414784fB3726c000&source=gmail&ust=1613826535870000&usg=AFQjCNGQUWWh3FBUINerlP2GB2iCVI8bqQ"><u>expects</u></a> that by the end of 2021, 4 in 10 US institutional investors will have some portfolio exposure to digital assets, up from 26% in March 2020. Coinbase's institutional assets under management have already grown to $45 billion, from $20 billion last November. As such, focusing on institutional investment services will enable Blockchain.com to ensure sustained growth as the market heats up.</li></ul><p><strong><em>Want to read more stories like this one' Here's how you can gain access:</em></strong></p><ol><li>Join other Insider Intelligence clients who receive Fintech forecasts, briefings, charts, and research reports to their inboxes each day. <a href="https://www.insiderintelligence.com/become-a-client/'IR=T&itm_source=businessinsider&itm_medium=content_marketing&itm_campaign=briefing_post&itm_content=bottom_bullets&itm_term=enterprise_text_link-blockchain-industry-heats-up-with-another-mega-round-2021-2">>> <strong>Become a Client</strong></a></li><li>Explore related topics more in depth. <a href="https://store.businessinsider.com/collections/fintech'IR=T&itm_source=businessinsider&itm_medium=content_marketing&itm_campaign=briefing_post&itm_content=bottom_bullets&itm_term=store_text_link-blockchain-industry-heats-up-with-another-mega-round-2021-2">>> <strong>Browse Our Coverage</strong></a></li></ol><p><em>Current subscribers can access the entire Insider Intelligence content archive <a href="https://subscriptions.emarketer.com/">here</a>.</em></p><p><a href="https://www.businessinsider.com/blockchain-industry-heats-up-with-another-mega-round-2021-2#comments">Join the conversation about this story »</a></p>
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