Digital Currency Group, parent of cryptocurrency exchange Luno, secures over US$700m investment round
PARENT company of crypto exchange Luno, Digital Currency Group (DCG), has secured an over US$700 million (S$943.3 million) investment round from SoftBank's Vision Fund II and Latin American Fund valuing the company at US$10 billion.
Other equity investors led by the two funds include Google's Capital G, Ribbit Capital, GIC, Tribe Capital and Emory University who purchased stock from existing investors.
Founder and chief executive officer, Barry Silbert did not sell any shares as part of this transaction. This round adds on to the US$25 million raised since DCG was formed in 2015.
The company claims that revenues in 2021 will exceed US$1 billion, and includes subsidiaries crypto exchange Luno, digital currency asset manager, Grayscale Investments, digital currency prime brokerage, Genesis and bitcoin miner, Foundry among others.
DCG is expanding its investment focus, with expansion of seed investments into new and emerging markets, building a team to focus on public equity investing and a new credit team to grow lending in the crypto currency industry.
Read more:
Copyright SPH Media. All rights reserved.
