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CoinList notches a $1.5 billion valuation as the trading app rides a wave of crypto enthusiasm

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The photo shows physical imitations of cryptocurrency
  • CoinList is valued at $1.5 billion after raising $100 million in its latest funding round.

  • The trading app said it focused on fast-growing regions in Asia, Europe, and the Middle East.

  • Monthly trading volume has increased to $1 billion in 2021 alone.

CoinList fetched a $1.5 billion valuation after raising $100 million in its latest funding round, the company said in a Tuesday statement.

The trading app for new digital assets, which launched in 2017, said it focused its fundraising in Asia, Europe, and the Middle East, where it's "growing fastest."

Early backers Accomplice and Agman co-led the funding round. Access Ventures, Taavet+Sten, GoldenTree Asset Management, and Fenbushi Capital, among others, also participated.

"This represents a major milestone in our mission to accelerate the advancement and adoption of crypto," CoinList said in its statement, adding that it will use the funds to scale its services and better support its community.

Crypto trading on the app has surged this year. The company said its monthly trading volume has increased to $1 billion in 2021 alone.

In the past 12 months, CoinList's global user base has soared more than 40-fold to 4.5 million accounts across 170 countries, Coindesk reported. New crypto projects such as Solana, Mina, Algorand, and Flow have all used CoinList to disseminate their tokens, Coindesk added.

Meanwhile, investors have flocked to the digital asset space this month, following the approval of the first-ever bitcoin linked exchange-traded fund.

Read the original article on Business Insider