Blockchain company ConsenSys raises $ 200 million from HSBC, Third Point By Reuters

Tom Wilson

London (Reuters)-Blockchain tech company ConsenSys said Wednesday that it had raised $ 200 million at a valuation of $ 3.2 billion from investors such as HSBC and US hedge fund Third Point.

Blockchain emerged more than a decade ago as the technology behind cryptocurrencies such as Bitcoin. Since then, investors have invested millions of dollars in technology and related companies, believing that it will transform the industry from finance to commerce.

New York-based ConsenSys is a prominent startup, and its CEO and founder Joe Lubin also helped discover the Ethereum cryptocurrency.

Its products include MetaMask, an app and web browser extension that allows users to retain and manage digital tokens and connect to other blockchain-based applications. According to ConsenSys, MetaMask has a total of 21 million monthly active users, 38 times more than last year.

Such technologies are considered the central stage of the so-called “Web3”. This is a new iteration of the Internet where blockchain-based “distributed” apps and cryptocurrencies are widely used.

On Web3, supporters say that individuals will have more control over their data and will not pay much attention to Big Tech.

“ConsenSys’ MetaMask wallet and other tools provide a unique platform for consumers, businesses and developers to engage, build and create on the distributed web,” said Daniel Loeb, CEO of Third Point. I am saying.

Ether, the second largest cryptocurrency after Bitcoin, is widely seen as an important part of Web3, as many apps are built on the Ethereum blockchain. A bet on the mainstream use of ether has pushed ether to a record high of nearly $ 4,870 this month.

Still, many large investors remain wary of direct investment due to cryptocurrency volatility, and some are investing in the relevant infrastructure instead.

HSBC, Europe’s largest bank, said it has no plans to set up a crypto trading desk or provide assets to its clients earlier this year. This is in contrast to the adoption of technology by rivals such as Goldman Sachs (NYSE :).

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Blockchain company ConsenSys raises $ 200 million from HSBC, Third Point By Reuters

Source link Blockchain company ConsenSys raises $ 200 million from HSBC, Third Point By Reuters

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