With Bitcoin skyrocketing trending graph on Coinmarketcap, other altcoins also chasing new figures. Beside cryptocurrencies, exchanges are also obtaining new and potential opportunities to outperform the competitors – one such trading platform called ‘Liquid’ which has recently announced its Unicorn status or the valuation of over US$1 billion.
Liquid Closes Funding Round and Becomes Unicorn
Announcing the valuation, Japanese regulated Liquid exchange (operated by leading fintech company, QUOINE) reveals that they have received funding in a Series C from market leaders Bitmain and IDG Capital. So far Japan’s startup space had only one tech Unicorn – following the funding; Liquid Exchange has also bagged Crypto Unicorn status. Consequently, there are two tech startups in the Japanese tech sector now. While the investing firms are known, the amount of capital raised is out of sight.
Nevertheless, Bitcoin Miner Bitmain itself is running tough since it had recently confirmed the lapse or inactive initial public offering (IPO) and lay-off announcement – the investment towards players like liquid which is based in Japan might intend to gain significant ROI. To note, Japan is one such country that has favorable regulation towards cryptocurrency. Concerning the announcement, Jihan Wu, Bitmain co-founder says that;
“Japan is one of the leading nations in putting the crypto industry under proper regulations, and Liquid Group has proven itself to be the exemplary player within such compliant rules. This is a very important and unique moat amid global competition.”
The new amount of investment received from Bitmain and IDG Captial will be used for exchange’s global expansion, product development as well as the upcoming security token offering. It’s common for a platform to secure funding to expand service across Globe – besides escalation plan, Liquid wants to enter into security token market.
Mike Kayamori, Liquid’s present CEO says that;
As we enter into a new age of digital disruption in financial services, consumers are increasingly placing a higher value on digital assets and technologies they can trust and use with greater ease. Our vision is to make financial services accessible to all, which means bringing more people into the digital asset space so that anyone can be a part of it. This first round of Series C funding from our two highly respected investors, IDG Capital and Bitmain, puts us in an incredibly strong position to make a global impact in 2019
Do you think to fund from Bitmain and IDG Capital worth Liquid exchange? Share your opinion with us.
Tabassum is a full-time content writer at Coingape. Her passion lies in writing and delivering apt information to users. Currently, she does not hold any form of cryptocurrencies. Follow her on Twitter at @Tabassumnaiz and reach out to her at Tabassum[at]coingape.com