Japan-based cryptocurrency trading platform Liquid closed the first stage of Series C financing; now its market value exceeding $ 1 billion. Thus, Liquid received the status of a unicorn company, Cointelegraph reported.
Liquid became just the second “unicorn” in the technology sector in Japan - previously, the company in the field of artificial intelligence, Preferred Networks, achieved capitalization in the amount of more than $ 1 billion.
Reportedly, the new round of Liquid financing was led by the US investment firm IDG Capital. Also, the company’s investor was Bitmain Technologies, a leading manufacturer of mining equipment. At the same time, the aggregate amount of financing turned out to be rather modest - only about $ 9 million.
Note that IDG Capital has previously invested in such companies as Coinbase, Ripple, the Kakao cryptocurrency division, as well as in Bitmain Technologies itself. In December 2018, Bitmain took part in the financing of the ErisX derivatives exchange.
Liquid is a subsidiary of Singapore-Fintech company Quoine, which is licensed by the Japan Financial Services Agency. The official launch of the platform took place last September.
According to Quoine representatives, the funding received will be directed to the global expansion of Liquid, the development of new products for traders and the entry into the market of security tokens.