MoonPay cryptocurrency startup valued at $3.4 billion in funding round

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A startup de cryptocurrency MoonPay raised $555 million in an investment round led by Tiger Global Management and hedge fund Coatue, a deal that valued it at $3.4 billion.

The series A fundraising round was also attended by Blossom Capital, Thrive Capital, Paradigm and NEA.

The evaluation of MoonPay takes place at the time the bitcoin is trading close to $60,000 despite recent increased regulatory rigor on digital assets.

Other companies also caught the attention of investors this year, as cryptocurrency startup Gemini, which was valued at $7.1 billion last week in a round led by internet entrepreneurs Cameron and Tyler Winklevoss last week.

FTX Trading, a cryptocurrency buy-sell platform, was valued at $25 billion after a round of financing last month.

MoonPay, which is profitable, claims it helps companies transact digital assets quickly and smoothly. The app also claims that it helped Bitcoin.com, a blockchain technology company, increase its revenue by more than six times.

The company said its technology for non-fungible tokens (NFT), unique cryptographic tokens that cannot be replicated, was also used by the OpenSea NFT market.

Reference: CNN Brasil

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