That valuation puts Blockchain.com amongst the most valuable crypto platforms.

A Bloomberg report Thursday said Blockchain.com, a cryptocurrency exchange and financial services firm, had raised new finance at a valuation north of $14 billion, more than double its previous worth, in a round led by Lightspeed Venture Partners with major participation from Baillie Gifford & Co.

Led by CEO Peter Smith, the firm was founded in 2011 and has since posted impressive growth as a crypto platform. According to its website, the company has 37 million verified users with 82 million wallets created, and more than $1 trillion transacted.

In the previous C round held in March 2021, Blockchain raised $300 million at a $5.2 billion valuation from investors including DST Global, Lightspeed Venture Partners and VY Capital.

Crypto, the Robinhood of finance

“More than ever before, crypto begins to seem like the real Robin Hood of finance,” wrote Smith in February 2021. “A decentralized network that creates and stores value for anyone with a mobile device and an internet connection.”

His comments came in the context of the pandemic, which he said had undermined trust in traditional financial institutions.

A year later, amidst the all-pervasive sanctions imposed on Russia, the significance of a decentralized financial network that cannot be weaponized is again front-and-center.

Focus on institutional business

Earlier this month, Blockchain announced its acquisition of the OTC trading and executions business of Singapore-based Altonomy to accelerate the growth of its institutional business, and as well to expand its trading operation and presence in Asia.

Altonomy specializes in high-growth altcoins, and in the last year alone it executed over $16B in OTC volume.

“There is so much growth ahead, so we’re excited to add Altonomy’s proprietary execution technology, expert team, and clients to the Blockchain.com Institutional business,” Blockchain said.

According to The Block, which quoted an informed source, the acquisition topped $250 million in a transaction involving both cash and stock.

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