Blockchain

NYDIG has raised $1B of funds and is now valued at $7B

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On Tuesday, New York Digital Investment Group, referred to as NYDIG, is a financial institution specializing in bitcoin financial services such as savings accounts, trading brokers, and 401(k)s. Announce It received a $1 billion equity investment led by WestCap. The value of this fund is close to 7 billion U.S. dollars.

Facts have proved that the company is very popular among institutional investors. Last year, Stone Ridge, $10 billion asset manager, Purchased 10,000 Bitcoins (Bitcoin) Through the service of NYDIG. NYDIG will also end the adoption of BTC 650 U.S. banks and credit unions, And start a BTC transaction 18 million Bank of America customers. In addition, NYDIG has been continuously launching new financing rounds in the past two years. $100 million In April and USD 200 million Respectively in March.

In addition to institutional interests, the company also Expand its outreach Announcing cooperation with the Houston Rockets of the National Basketball Association last month. NYDIG will pay the team fees in BTC according to the terms. In November, the company announced again $300 million acquisition Bottlepay, whose technology is able to transfer BTC and traditional fiat currencies for micropayments or microtransactions between the UK and the EU

WestCap partner Scott Ganeles issued the following statement regarding the development project:

NYDIG plays a unique role in this industry, enabling companies of all types to integrate Bitcoin in a safe and compliant manner. We are proud to be able to work with Robby and his outstanding NYDIG team because they opened up new accessibility avenues and further accelerated the adoption of Bitcoin.