Amberdata, a blockchain analytics company, has announced it has raised $15 million in a Series A led by Citi. The company said in a press release other investors such as Franklin Templeton, Galaxy Digital, Rovida Kruptos Assets also participated in the fundraising.
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The company plans to use the proceeds to expand R&D headcount and services around the United States and internationally. Shawn Douglass, CEO at Amberdata, says the team sees "growing institutional interest and demand in crypto assets."
"Partnering with the exceptional group of strategic investors gives us unprecedented insights into institutions' roadmap and challenges," Douglass added.
Amberdata was founded in 2017. Currently, the platform supports more 12 blockchain networks transactions, over $500 billion in trading activities daily, and over 32,000 traded pairs. Earlier in August, it became known that Citigroup was waiting for the approval from regulators to launch BTC futures trading on the Chicago Mercantile Exchange (CME).
According to sources close to Citigroup, the financial giant noted a surge in interest in the largest cryptocurrency by market capitalization from customers in the context of its recent price jump to $50,000.
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