Valuation of the New York Digital Investment Group (NYDIG), an investment management firm, has reached the $7 billion mark as a result of the latest $1 billion funding round led by WestCap. The firm said in a press release other investors, including Bessemer Venture Partners, FinTech Collective, MassMutual, Morgan Stanley, New York Life, and others also participated.
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.
The New York-based firm wants to use the raised capital used to further develop institutional-grade bitcoin (EXANTE: Bitcoin) platform using recent upgrades to the Bitcoin protocol with capabilities like Lightning Network, asset tokenization, and smart contracts. NYDIG will also use the capital to further expand its world-class team across the globe.
In November, NYDIG acquired Bottlepay, a bitcoin-focused payments application. The financial terms of the deal were not disclosed. Prior to the acquisition, NYDIG invested in Bottlepay during the company's seed funding round.
Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange.