Big corporates invested over USD 850 million in crypto startups

Monday 22 April 2019 10:57 CET | News

Venture capital investments in crypto and blockchain startups that included funds from corporates have raced to USD 850 million in 2019, data compiled by PitchBook for Reuters shows.

The 13 deals put the flows on track for a second straight annual record. In 2018, major finance and tech companies such as London Stock Exchange Group and Microsoft invested USD 2.4 billion over 117 investments. This suggests large companies see promise in the nascent technology, even as it struggles for acceptance.

Companies are looking at how, and if, blockchain and related technologies can be used in ways that could spark deeper change. Another, key driver is a growing expectation that the “tokenisation” of assets from stocks to oil - essentially digitising them and allowing them to be traded on blockchain - will upend markets, lawyers and consultants working with fintech companies said for Reuters.

Also, cryptocurrency miners and exchanges make up the four biggest VC-backed companies by valuation, according to the PitchBook data.

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Keywords: blockchain, cryptocurrency, tokenisation, investment, VC, startups, supply chain, mining
Countries: World