The platform focused on institutional players, New York Digital Investment Group (NYDIG), raised $1 billion, closing a funding round that was record-breaking for the industry. This was announced in a press release.
The round was led by WestCap. Participating were Bessemer Venture Partners, FinTech Collective, as well as NYDIG’s earlier supporters including Affirm, FIS, Fiserv, MassMutual, Morgan Stanley and New York Life.
Investors valued the company at $7 billion.
Representatives of NYDIG said the firm would continue to develop an institutional-grade Bitcoin platform, implement Lightning-payments and smart contracts, and work on asset tokenisation.
In March, NYDIG raised $200 million in a round with Morgan Stanley, MassMutual and other investors. In the next month, the firm received additional funds from Starr Insurance, Liberty Mutual Insurance and other market participants.
Back in July, FTX attracted a record $900 million at an $18 billion valuation. In October, the cryptocurrency derivatives exchange closed a Series B-1 funding round worth $420.69 million, after which its valuation reached $25 billion.
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