NYDIG, a subsidiary of Stone Ridge and emerging crypto leader, just completed a massive $1 billion funding round that has raised the company’s total valuation to just over $7 billion.
In a press release this morning, NYDIG confirmed the amount of funds raised and revealed that WestCap was the leader of the latest monetary injection with FIS, MassMutual, Bessemer Venture Partners, Fiserv, Morgan Stanley, New York Life, and others also contributing funds.
The co-founder and CEO of NYDIG, Robert Gutmann recently expanded on the latest round of funding and the companies that were making commitments. Gutmann pointed out that the new partnerships were based on mutually strategic benefits and that they would lay the foundation. For NYDIG to become the leading provider of Bitcoin solutions in the industrial and business space.
NYDIG also outlined their future ambitions in this morning’s press release, sharing their vision to revamp and improve their institutional-grade Bitcoin platform via asset tokenization, s.art contracts, and integrating Bitcoin/lightning payments.
NYDIG has been the beneficiary of several highly successful funding rounds during the past year. In March they raised $200 million in a round that was led by Morgan Stanley, New York Life and MassMutual and by April NYDIG had raised another $100 million. After their latest funding round, NYDIG appears ready to take off and push the institutional adoption of Bitcoin into overdrive.
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