Qredo announced $80 million in Series A financing, led by 10T Holdings, with strategic investments from Coinbase, Avalanche and Terra.

Qredo is oversubscribed, validating the long-term vision of the Layer 2 network and propelling Qredo to a staggering $460 million valuation

London, February 4, 2022 - Qredo, a decentralized layer 2 infrastructure for digital asset custody and settlement, today announced the closing of one of the largest Series A funding rounds to date in the crypto and blockchain related markets.

Qredo’s $80 million Series A round was led by10T HoldingsandCoinbase Ventures, AvalancheandTerraandKingsway Capital, HOF Capital, Raptor GroupandGoldenTree Asset Management. Qredo completed the A round of financing at a valuation of US$460 million.

"We've won the backing of some of the biggest and brightest investors in crypto, which is a clear testament to Qredo's long-term focus and mission," said Qredo CEO Anthony Foy. "The Qredo solution provides institutions with a secure A cost-effective and compliant way to leverage digital assets and DeFi. We are now in an excellent position to seize the opportunity, capture market share, and demonstrate the strong value of decentralized custody."

Multi-Party Computation (MPC)Multi-Party Computation (MPC)Eliminates vendor risk and single points of failure associated with centralized custody solutions and traditional private key management.

Seed round financingSeed round financingand June 2021Token Private SaleLikewise, Qredo has attracted financial and strategic investors. Strategic investors will also build solutions on Qredo for their clients, bringing the next wave of user growth to the network.

Qredo's Series A round also marks a year of strong operational momentum for the company. October 2021, QredoBreakthrough integration with MetaMask Institutional, starting to enable users to safely participate in new DeFi innovations, such as accessing cross-chain liquidity pools and trading collateralized derivatives across multiple chains. A few weeks later, Qredo is one of the few chosen to launch the next generation of Bitcoin and blockchain-related applications in El Salvadorone.one.

“Infrastructure is a key battleground for expanding crypto adoption,” said Dan Tapiero, founder and CEO of lead investor 10T Holdings. "Qredo's distributed architecture and unique implementation of MPC is a game changer for secure custody and settlement of crypto assets. Qredo is a project with the drive, resources and technical strengths to support the complex and ever-changing needs of its users now and in the future .”

Qredo's Series A includes $60 million in primary capital and $20 million from secondary investors. The funds raised will be used to drive the next steps of Qredo's development. This includes future acquisitions, further development of Qredo functionality for retail users, and facilitating Qredo's geographic expansion.

All investors in the A round of financing include: 10T Holdings, Kingsway Capital, Coinbase Ventures, Ava Labs, Terraform Labs, GoldenTree Asset Management, HOF Capital, Tokentus Investment AG, SVK Crypto, GMF Capital, Rovida Kruptos Assets Limited, Vectr Fintech , Kestrel 0x1, Kenetic Capital, Nural Capital First Light (US) LP, Raptor Group, Alumni Ventures Blockchain Fund and Liberty City Ventures.
About Qredo

About Qredo

Qredo is a decentralized digital asset management infrastructure and product suite designed to unlock new opportunities for institutional investors in digital assets and decentralized finance. Qredo's layer 2 blockchain protocol enables users to seamlessly transfer and settle BTC, ETH and ERC-20 tokens. Assets are secured by Qredo's advanced Gen 2.0 Multi-Party Computation (MPC), providing first-tier bank security and institutional-grade governance.

Original link:qredo@wachsman.com

Original link:https://www.qredo.com/blog/qredo-series-a-raise