Luxembourg-based Blocktrade SA, a digital asset trading facility, which aims to become fully regulated, announced that it has raised the largest crowdfunding in Luxembourg, to date. The company raised over €22M in an oversubscribed Series A round of funding.
This investment of Blocktrade came from private undisclosed investors from 33 countries.
This development was carried out under the leadership of the company’s new CEO, Bernhard Blaha. He was appointed as Blocktrade’s new CEO at the end of last year. Blaha has been involved with digital assets for years and is a board member of the Digital Assets Association Austria.
How will the funds be utilised?
The proceeds from this round will help Blocktrade to continue to improve its internal operations – particularly in the areas of security, fiat gateway, and market-making. The company also says that it would allocate more resources to growing its potential user base, as well as pursue other business partnerships.
Furthermore, a B2C campaign will also be launched in 2021 to increase the user base. B2B partnerships through which Blocktrade distributes white-label features are also in the pipeline.
In addition, a service is being set up to support startups in “regulated capital procurement” through to “building a liquid secondary market”.
The company is a digital asset marketplace. It is part of a wider ecosystem, which covers all stages of asset tokenisation. Blocktrade CEO Bernhard Blaha, says, “Blocktrade is more than a classic crypto exchange: we are building a complete ecosystem around digital assets, which provides our users with much more than just access to trading tools.”
Founded in 2018, Blocktrade was later acquired by Cryptix AG, a Swiss VC firm that specialises in digital payments. Under the leadership of Cryptix, Blocktrade underwent a securities offering in early 2021, attracting investments from over 6,000 participants across Europe.
The company is developing and operating an institutional-grade digital assets exchange that focuses on “cutting-edge technologies, highest security standards, and excellent user experiences.” The Blocktrade team is on a mission to change how capital markets operate on both primary markets and secondary markets by using blockchain and technologies.