Summary:
Blockstream raises $210 million to expand its layer-2 solutions and mining operations.
Funding led by Flugur Ventures marks a critical growth phase for Blockstream.
Over $1.8 billion in assets issued on the Liquid Network since 2018.
Launch of BMN 2 offers investors direct exposure to Bitcoin hash rate.
Greenlight integration enhances scalability and non-custodial capabilities.
Blockstream's Major Fundraising
Blockstream, a leading infrastructure provider for Bitcoin, has successfully raised $210 million through convertible note financing in its latest funding round. This initiative was led by Flugur Ventures, a venture capital firm focused on cryptocurrency. The funds will be utilized to expand Blockstream's layer-2 solutions and enhance its mining operations.
Dr. Adam Back, co-founder and CEO of Blockstream, emphasized that this fundraising marks a pivotal moment for the company, as it aims to further integrate Bitcoin with the broader financial ecosystem.
Layer-2 Solutions and Achievements
As a prominent developer on the Bitcoin network, Blockstream provides a range of layer-2 solutions, including the Liquid Network. This network facilitates secure transactions for businesses and traders dealing with digital assets. Since its inception in 2018, more than $1.8 billion in assets, such as tokenized securities and stablecoins, have been issued on Liquid.
Blockstream's technology also supports Bitfinex's offerings of tokenized securities and other significant blockchain products.
Recent Innovations
This funding round follows the launch of Blockstream's Series 3 of Bitcoin Mining Note (BMN) 2 in September, offering investors direct exposure to its Bitcoin hash rate, which could lead to higher returns. Additionally, it comes after the rollout of the Greenlight integration, a scalable and non-custodial Lightning Network solution introduced last year.
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