2021 has been an exciting year for blockchain and cryptocurrency, especially in terms of investments. Investment in blockchain in 2021 has surpassed billions in countless rounds of funding. This comes as no surprise, as most companies say they are planning to invest or are currently working on implementing blockchain in their organization. To demonstrate just how thriving the blockchain sector has been so far this year and its potential, Fast Offshore is taking a look at some of the most exciting transactions to date.
Goldfinch is a decentralized lending platform that offers loans without the need for collateral. The company describes itself as providing the “missing piece” to those wishing to access lending but who have previously been unable to do so. With a focus on emerging markets, they hope to increase financial inclusion globally by providing essential access to capital. Already operating in India, Mexico, Nigeria, and Southeast Asia, they claim to have over 10,000 users. In June, they managed to raise some $11 million in Series A funding which they say will enable them to hire more staff and expand the network of lenders and borrowers.
Another key investment in blockchain in 2021 is through Bitwise. The company created the world’s first and largest crypto index fund. They are also considered one of the most famous crypto fund managers in the world. Earlier this year, they managed to secure a whopping $70 million from a select few institutional investors and around 30 individual investors. The company says they will use the money to develop their research arm, improve customer service, and onboard more sales staff. On an impressive upwards trajectory, Bitwise managed to double their staff size in just six months.
In 2021, Ledger raised an impressive $380 million in Series C investments from Draper Esprit and Digital Currency Group investors. This sent the companies to value soaring to over $1.5 billion. The company was founded back in 2014, and they manufacture software and hardware for digital wallets. With a focus on security, their products have been in demand, and they’ve sold more than 3 million in seven years. They also state that some 15% of the world’s crypto wallets use their technology. The new funding will allow them to focus on expanding the team and developing additional products and systems. But this amount of funding is without a doubt a significant investment in blockchain in 2021.
Most of us have heard of Circle. A peer-to-peer payments company, it was launched back in 2013 and allowed users to hold and transact with fiat currencies. Now partners with Coinbase, they have branched out into trading, crypto, and of course, the US dollar-based coin, USD coin. This is a stablecoin that Circle says helps to maintain the volatility of the market. The company managed to raise some $400 million this year through fidelity investors, although they remain under wraps. This is a significant boost for the company and an example of a substantial investment in blockchain in 2021, pointing to growing confidence in the sector.
Solana has challenged itself to “take on one of tech’s biggest challenges,” which it says is scaling blockchain for global adoption. With a team coming from companies such as Intel, Google, Microsoft, Dropbox, and Twitter, they created a blockchain network that appears to be much faster and more energy-efficient than networks like Bitcoin or Ethereum. In a round of funding this year, they pocketed some $314 million, with Andreessen Horowitz named as the primary investor.
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If you are considering starting your own blockchain business, you will likely need expert advice. Fast Offshore has been working in the blockchain and crypto sector for many years. We can provide advice and services relating to incorporation, tax, compliance, and other matters. The amount of investment in blockchain is set to increase substantially in the next few years. Don’t miss out, get in touch today!
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