Liquid.com Closes Funding Round Valuing Crypto Firm at 'Over $1 Billion'

Crypto trading platform Liquid.com has been backed by Bitmain and IDG Capital in a funding round it says makes it the latest crypto unicorn.

AccessTimeIconApr 3, 2019 at 9:45 a.m. UTC
Updated Sep 13, 2021 at 9:02 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Crypto trading platform Liquid.com has been backed by Bitmain and IDG Capital in a funding round that, it says, makes it the latest crypto unicorn.

The firm, which is owned by Japanese cryptocurrency exchange Quoine, announced Wednesday that, with the closing of the Series C round, its "over $1 billion" valuation makes it “one of only two tech unicorns in Japan's startup space.”

Liquid.com, however, did not disclose the amount invested by IDG Capital and Bitmain, the former of which led the round.

The funds will be put toward global expansion and product development, as well as to support a move into the security token market, it said.

“Our vision is to make financial services accessible to all, which means bringing more people into the digital asset space so that anyone can be a part of it,” according to Liquid.com CEO Mike Kayamori.

Quoine launched the Liquid.com platform back in September to provide users with access to a “worldwide network of cryptocurrency exchanges.”

Liquid said it has previously raised more than $20 million from venture capital firms, including JAFCO, SBI, B Dash Ventures and ULS Group. While in 2017, it said it raised more than $100 million in a “pre-discounted” and “regulated” initial coin offering (ICO).

Bitmain co-founder Jihan Wu said:

"Japan is one of the leading nations in putting crypto industry under proper regulations, and Liquid Group has proven itself to be the exemplary player within such compliant rules."

IDG Capital is notably an investor in Coinbase, Circle and Ripple, as well as other crypto startups including KuCoin and imTokenBitmain has also invested in Circle, while other portfolio firms include derivatives and digital asset trading platform ErisX and EOS developer Block.One.

Unicorn image via Shutterstock

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.