CoinList Valued at $1.5B as Lending, Staking Join Business Mandate

Following a $100 million funding round, the token sale platform is planning to invest heavily in two of its newer business lines.

AccessTimeIconOct 27, 2021 at 3:43 p.m. UTC
Updated May 11, 2023 at 5:51 p.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

CoinList, a token sale platform popular among cash-hungry crypto projects and early investors alike, has raised $100 million in its first equity round in nearly two years.

The company is now valued at $1.5 billion, CEO Graham Jenkin told CoinDesk. He said Accomplice VC and Agman Partners led the round.

The capital injection signals strength in the vibrant and nearly global business of primary market token sales. Solana, Mina, Algorand, Flow and other projects have all turned to CoinList for help distributing their native tokens.

For investors, those early-stage offerings hint at the exponential returns typically only offered to venture capitalists. For CoinList, whose product is essentially a regulated version of crypto’s fast-and-loose initial coin offering days, it’s a big business that has expanded into trading and staking as well.

“We’re seeing a lot of the new businesses that we’ve developed in the last year – staking and lending, in particular,” Jenkin said. “They’re very immature businesses but they’re growing really rapidly for us.”

CoinList said its user base expanded forty-fold year over year to 4.5 million accounts. Its monthly trading volume is north of $1 billion, Jenkin said; there are over $2.6 billion in crypto assets staked and $370 million in loans facilitated this year.

Jenkin said the growth underscores the need for capital to help scale. CoinList is focusing its expansion efforts on Europe and Asia where he said growth this year has already been “insane.”

Matthew Rhodes-Kropf, Taavet+Sten, Metaplant, Alphemy Capital, Continue Capital, CMT Digital, DFG Capital Management, Fenbushi Capital, GoldenTree Asset Management and Metaplanet also joined the $100 million funding round.

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.

Danny Nelson

Danny is CoinDesk's Managing Editor for Data & Tokens. He owns BTC, ETH and SOL.


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.