Blockchain infrastructure provider Figment has announced it has raised $50 million from institutional partners in a Series B funding round. According to Bloomberg, the latest funding round brings Figment valuation to $500 million. The round was led by Senator Investment Group and Liberty City Ventures with participation from Galaxy Digital, Anchorage Digital and others.
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The company said in an announcement the amount of cryptocurrencies staked at its infrastructure is currently over $7 billion. The clients base has also grown to supporting over 100+ institutional clients.
"Our belief is that the majority of value and data will be exchanged, settled, and stored on PoS blockchains," said Lorien Gabel, Figment CEO.
The company wants to use the capital to expand its team and services. Previously, Galaxy Digital became Goldman Sachs' liquidity provider for bitcoin (EXANTE: Bitcoin) futures block trades on CME. The firm will offer the bank access to deep and diverse liquidity on a principal basis of cryptocurrency exchanges and over-the-counter (OTC) markets.
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