CoinList (Amalgamated Token Services Inc.) has announced a funding round of $100 million that brings the digital asset platform a $1.5 billion valuation.
The news follows sister platform Republic raising a $150 million Series B funding round.
The funding round was co-led by early CoinList backer, Accomplice, along with Agman. Additional investors include HashKey Capital, Access Ventures, Alphemy Capital, Broadhaven Ventures, Continue Capital, CMT Digital, DFG, FBG Capital, Fenbushi Capital, executives from GoldenTree Asset Management, Hack VC, Jsquare, LD Capital, Metaplanet, Perpetual Value Partners, Rising Tide Fund, and Taavet+Sten.
CoinList CEO Graham Jenkin stated:
“In this round, we focused on deepening relationships with our existing community rather than signing new venture capital. And our community is truly global. While we have some great U.S. investors, our new investors are mostly active users and partners in the regions where we are growing fastest – Asia, Europe, and the Middle East. We’re very excited to have them join us.”
The Series A funding is expected to help fuel further growth following 12 months of global user and revenue growth driven by a strong token issuance market and CoinList’s expansion into trading, staking, and lending. CoinList reports that it now has users across 170+ countries.
CoinList shared some interesting data points:
- Monthly trading volume has increased to $1 billion in 2021 and the number of average monthly traders increased 8x. We’ve also launched the most active liquidity pool for Wrapped Bitcoin (WBTC) and went from offering 4 trading pairs to 67 on CoinList Pro.
- Lending — Over $370 million in loans originated across multiple assets for ecosystem partners in our first year of running this business.
- CoinList Seed — Hosted over 50 startups in the program, including companies like Injective Protocol, Acala, Clover Finance, and Rabbithole. Participating startups have gone on to raise from top investment funds including Electric Capital, Pantera Capital, Multicoin, and Placeholder Ventures.
- Staking — Assets staked on CoinList has surpassed $3 billion in 2021. Users of CoinList’s staking services have received over $130 million in staking awards and eligible users can now stake new assets like FLOW, CSPR, NU, and MINA.