Blockchain investing platform CoinList has collected $9.2m in its initial funding round.
Contributions to the round came from Polychain Capital, Digital Currency Group, FBG Capital, Libertus Capital, Blockchain Capital, CoinFund and Electric Capital. The $9.2m figure includes a previous undisclosed investment from Accomplice and Protocol Labs.
Launched in 2017, CoinList provides a platform for technology companies to manage their token sales and help accredited investors back safe opportunities. CoinList also enables companies to conduct AML and KYC checks on all potential investors, and verify the accreditation status of investors pursuant to US securities laws.
Over the past seven months CoinList has processed over $400m in cryptocurrency investments through the platform, according to the company. It also supported Filecoin’s $205m ICO, one of the largest ICOs of 2017.
Capital from the round will be used to hire more staff to its compliance, operations, engineering, product development and sales teams. Proceeds will also be used to support its current products and launch new services over the next few months.
Digital Currency Group founder and CEO Barry Silbert said, “As we continue to see outsize interest in cryptocurrency and blockchain technologies, CoinList has emerged as a leader that has uniquely developed credibility with the three most important stakeholder groups – entrepreneurs, investors and regulators. In CoinList, we’ve invested in the right team with the right technology and brain trust at the right time.”
Earlier this year, Hodl Hodl launched a peer-to-peer cryptocurrency exchange, which offers traders decentralized exchange functionality for Bitcoin and Litecoin, without KYC/AML. The P2P cryptocurrency exchange, allows users to trade directly with each other, and without a middleman involved.
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Copyright © 2018 RegTech Analyst
