- Blockchain, a bitcoin wallet start-up, has raised $40 million led by venture capital firm Lakestar, Google’s investment arm GV, and billionaire Richard Branson, the company said on Thursday.
- Blockchain has created a bitcoin wallet which is essentially a piece of software to store the digital currency and carry out transactions with other users.
- The money will be used to expand the team further and invest in more research and development, Blockchain CEO Peter Smith, told CNBC on Thursday.
- Smith said that the recent rally in bitcoin has caused high demand for Blockchain’s wallet product, and the funding will help to meet that.
- Blockchain has nearly 15 million sign-ups with “billions of dollars worth of monthly consumer wallet activity”, Smith said, adding this includes deposits and transactions.
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