Cryptocurrency Companies Raise $62M in Venture Capital This Week

Cryptocurrency companies raised nearly $62 million in venture capital (VC) this week, with Securitize leading the way by securing $47 million in funding. BlackRock, a prominent asset manager, spearheaded the investment round, showcasing the increasing interest in digital asset securities.

Securitize, a key player in the digital asset securities market, closed a significant funding round on May 1, with BlackRock taking the lead. Joseph Chalom, BlackRock’s Global Head of Strategic Ecosystem Partnerships, also joined Securitize’s board of directors as part of the fundraising agreement.

In conjunction with the funding, BlackRock launched its first tokenized fund, the BlackRock USD Institutional Digital Liquidity Fund (BUIDL), deployed on Ethereum. Managed jointly with Securitize, BUIDL aims to offer a stable token value of $1, provide dividends directly to investors’ wallets, and offer flexible custody options for enhanced accessibility and convenience.

Another notable funding recipient this week was Agora, a cross-chain governance platform that secured $5 million in seed funding. Backed by Haun Ventures, Coinbase Ventures, and various industry heavyweights, Agora provides essential tools for decentralized communities, including gasless voting, proposal sponsorship, and API integration.

Moso, a Los Angeles-based platform that combines crypto rewards with online shopping, successfully closed a $2 million seed funding round in late April. With partnerships with over 2,000 merchants like Walmart and eBay, Moso plans to use the funds to enhance its operations and development initiatives.

X10, a hybrid crypto exchange launched by former Revolut employees, raised $6.5 million in funding. Promoting a hybrid approach to crypto custody, X10 aims to combine the best of centralized and decentralized systems.

Lastly, Hinkal, a San Francisco-based privacy layer for confidential decentralized finance (DeFi) transactions, secured $1.4 million in funding led by the SALT Fund. Founded by Giorgi and Nika Koreli, Hinkal uses zero knowledge (ZK) technology to provide a secure environment for token vesting and liquidation without adverse market impacts.