Cryptocurrency Exchange Liquid Attains Unicorn Status after Series C Funding Round
Liquid, a Japanese cryptocurrency platform, has become only the second company in the industry to attain unicorn status, the firm reports in a recent press statement. Founded in 2014, Liquid is now worth north of $1 billion after its latest funding round.
Liquid Attains Cryptocurrency Unicorn Status
The Quoine-owned Liquid becomes the latest cryptocurrency company to achieve a valuation of $1 billion, thus attaining unicorn status. According to the company’s press statement published on Wednesday (April 3, 2019), Liquid’s ongoing Series C funding round has seen the company become valued at more than $1 billion.
Reports indicate that IDG Capital and cryptocurrency mining behemoth, Bitmain Technologies led the funding round. IDG has become a serial cryptocurrency investor with significant positions held in companies like Kakao, Coinbase, Ripple, and Bitmain.
Commenting on the success of the first round of Series C funding, Mike Kayamori, the CEO of Liquid, said:
“This first round of Series C funding from our two highly respected investors, IDG Capital and Bitmain, puts us in an incredibly strong position to make a global impact in 2019.”
According to Kayamori, the emerging digital landscape is one that will drive development on a global scale across a broad spectrum of business processes. The Liquid CEO wants the company to be at the forefront of making financial services accessible to people via the use of digital assets.
Expansion Drive with Regulatory Compliance
Liquid says it has plans to attract investors from the mainstream business sector as it pursues an aggressive global expansion plan. Commenting on the plan in an interview with TechCrunch, Kayamori opined:
“This round will be purely strategic. We want to get traditional, mainstream [investors] on board.”
By pursuing global expansion, Kayamori says Liquid is aware of the regulatory arbitrage that exists for cryptocurrencies in different parts of the world. However, the Liquid CEO says the company remains committed to staying on the right side of the law at all times.
Elaborating further about Liquid’s commitment to regulatory compliance, the Liquid CEO declared:
“We do it the right way. We want to work with regulators and banks.”
As previously reported by BTCManager Liquid is set to debut Liquid Infinity, a Bitcoin (BTC) Contract-for-Difference (CFD) product. The Bitcoin CFD offers up to 100x leverage trading and as such will not be available to traders in Japan due to strict margin trading regulations in the country.