Parent company 21Shares becomes a Swiss crypto giant as it is valued at $2 billion

Parent company 21Shares becomes a Swiss crypto giant as it is valued at $2 billion

The popularity of the crypto sector is growing daily. More and more companies are entering the industry, given its great potential to generate higher profits than most conventional means. These emerging companies are making a significant impact on the system by providing unique products and services related to cryptocurrencies.

For the success of most of their projects, some of these crypto service firms engage in fundraising. These processes have become one of the famous activities that occur in the crypto industry.

Such rounds usually help them generate most of the necessary funds to facilitate their current or future projects. Other top performers in the crypto space usually facilitate and support these rounds for up-and-coming firms.

In a new development, 21.co, the parent company of 21Shares, discovered recently completed fundraising round. According to the crypto ETF issuer, Marshall Wace pioneered the round, which ultimately generated around $25 million.

This recent fundraising round is the first of its kind for 21.co in two years. Apart from Marshall Wace as the leading company, other companies also participated in the fundraising. These include Quiet Ventures, Valor Equity Partners, Collab+Currency and ETFS Capital.

21.co received an increased valuation through fundraising

With the funding from the round, 21.co received a jump in valuation, which currently stands at $2 billion. The firm claimed that it has climbed to a better positive scale that will facilitate an increase in its performance. Also, through a round of fundraising and valuation, 21.co now stands as Switzerland’s largest cryptocurrency unicorn.

The subsidiary created support moves for the activities of its parent operations. 21Shares has added various tasks that would help 21.co in its expansion goals in the Middle East and some European countries.

Also, 21Shares moved into the US market in May with the launch of two different private equity funds. These funds aim to bring exposure to crypto assets to accredited investors.

The firm focuses on expanding the crypto market

With its announcement, 21.co revealed its new focus based on increased valuation. He reported that operations with a focus on his products will lead to rapid and improved growth. It also promised to include strategic talent acquisitions and key market expansions.

Cryptocurrency market to rebound above $2 trillion | Source: Total market cap of cryptocurrencies on TradingView.com

In addition, the ETF issuer has made more plans to introduce institutional and retail investors to the asset class. The company has decided to take regulatory compliance as its motto. Therefore, they will also follow regulatory standards within their area of ​​operation.

Let’s remind you that by the end of 2021, the record revenue of 21.co was at the level of billions. Also, his performance during the crypto winter was not bad. The firm was able to hold its anchor through the storm and is still seeing sustainable inflows into the business.

Featured image from BBC, chart from TradingView.com



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