Mobile cryptocurrency wallet BRD is announcing that it has raised $15 million in Series B funding.
The funding comes from SBI Crypto Investment, a subsidiary of Japanese financial services corporation SBI Holdings( formerly an owned subsidiary of SoftBank ). BRD said the funding will enable it to stretch its product and engineering teams, and to expand in Japan and across Asia.
” SBI Group’s investment in BRD allows us to firmly cement ourselves in the Asian sell, ” said BRD co-founder and CEO Adam Traidman in a statement. “It shows breathtaking support for the foundation that we have built in North America and reinforces our proved ability to flake the success we have achieved in the past four years. The new asset will ensure our long-term global raise, and we are incredibly roused about collaborating with SBI as a strategic investor and business partner to stir that happen.”
It’s surprising to accompany a crypto startup conjuring money now, granted the broader crypto downturn.After all, BRD statements itself as the most basic road to start buying and collecting cryptocurrencies — but does that entail anything if consumers are being frightened away from endowing?
When I questioned Spencer Chen, the company’s vice president of global marketing( and an occasional sidekick of mine ), about the industry’s recent challenges, he disagreed,” The would be required for a single, global currency still exists .”
” That’s what all got lost in 2018 as the fast-money, speculators, and speculators came piling into the crypto opening ,” Chen told me via email.” It certainly convoluted the core operation of a natively digital currency. Money that worked just like the open internet. As a company that’s built-to-last and committed to the core operation of crypto currency, there was nothing more frustrating than to witness the many steps downwards service industries at large made in 2018.”
In fact, BRD says it doubled its total install base in 2018, resolving its first year with 1.8 million customers globally. It also says it’s currently being used to collected the equivalent of$ 6 billion mainly in Bitcoin and Ethereum — with a 24 percentage increased number of monthly active users between November and December, after it started accepting stablecoins( who the hell is pegged to the value of a fiat currency ).
BRD has now conjured a total of $55 million. It’s also announcing a partnership with Coinify, allowing users to clear cryptocurrency acquisitions applying bank accounts in the European market.
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