ConsenSys completes $65 million in financing, JPMorgan Chase, Mastercard, UBS and others participate
This article comes fromThe Block, original author: Michael McSweeney
Odaily Translator | Nian Yin Si Tang
Summary:
This article comes from
, original author: Michael McSweeney
Odaily Translator | Nian Yin Si Tang
secondary titleSummary:。
- Brooklyn-based ConsenSys announced $65 million in new funding.
- Investors include JPMorgan, UBS, Mastercard and a series of investment companies and digital asset industry startups.
ConsenSys, a software company focused on Ethereum, announced the completion of $65 million in new financing, with a luxurious lineup of investors, including two major banks, a top financial services company, and a series of digital asset industry startups and investors.
Investors in the funding round include JPMorgan Chase & Co., which already had last year, according to a press statement.
Related reportsAt the end of August 2020, ConsenSys said it had acquired Quorum, a blockchain platform owned by JPMorgan Chase. JPMorgan also made a strategic investment in ConsenSys as part of the deal, but the companies declined to disclose financial terms. Joseph Lubin, CEO and founder of ConsenSys, said in an interview: "We have acquired Quorum, JPMorgan Chase has made a strategic investment (in us), and we have commercial arrangements for Quorum to continue to support the JPMorgan Chase project." JP Morgan Chase Umar Farooq, global head of blockchain, said in an interview that the Quorum team will remain at JPMorgan Chase to assist in its transformation next year and will work on other blockchain projects.UBS and Mastercard also participated in the $65 million funding round announced by ConsenSys on Tuesday, with other investors including FTX owner Alameda Research, Protocol Labs, Fenbushi Capital, Maker Foundation, The LAO, Liberty City Ventures, Greater Bay Area Homeland Development Fund, CMT Digital, NGC Ventures, Quotidian Ventures and Liberty City Ventures. The $65 million was reportedly raised through convertible notes.
According to CoinDesk, in this investment, in addition to fiat currencies, several investment funds are also considering Ethereum-based stablecoins as investment methods, such as DAI and USDC. According to TechCrunch, this round of financing began around the time ConsenSys acquired Quorum last June.
"As we embarked on fundraising, it was important to us to patiently structure diverse sources of funding, consistent with our belief that, similar to how the web evolves, entire economies will join the revolutionaries of the next generation of protocols ranks,” ConsenSys founder Joseph Lubin said in a statement.
Considering the area of activity of ConsenSys, the participation of the Greater Bay Area Common Home Development Fund is noteworthy. The fund is a private equity fund created with the joint support of private and state-owned enterprises in China.ConsenSys has partnered with Blockchain Service Network (BSN), at the end of January 2021, the underlying framework of the Quorum alliance chain will be launched on BSN to serve the proprietary node services of enterprises and governments. In the next few months, Quorum's cross-chain service will be integrated into the BSN Interchain Hub (ICH), and developers can implement the interoperability of homogeneous and heterogeneous blockchain applications in BSN based on Quorum to build advanced IT systems.
More broadly, the round may be a sign that investors are looking to bet on technology-focused companies in the industry as well as companies focused on digital asset investment services.
