Following its first outside round of funding, Blockchain Limited, which runs the world’s most popular wallet for storing bitcoins has raised in excess of $30 million.
Among the top investors are Lightspeed Venture Partners, Wicklow Capital and Richard Branson as confirmed by the London-based company in a statement. Blockchain, which has more than 2.3m consumer wallets, will use the funds to expand internationally and add features.
Blockchain hope to fend off competition from the other wallet providers such as Circle Internet Financial to attract users as many people now use the currency to pay for virtually any transaction on the web.
Recently, Apple Inc relaxed its policies on apps that handle virtual currency and this enabled Blockchain to introduce an iOS mobile application for its wallet bringing convenience and availability to the millions of customers on its platform.
If there was a vote of confidence required to boost the multi billion dollar crypto currency industry, it couldn’t have come from a better source than the renowned global investor and founder of the Virgin Group Limited, Sir Richard Branson. In his words, “The potential for a global transformation in payments powered by Bitcoin is very exciting. Consumers are being offered much greater control and freedom with their money and more of them have chosen Blockchain’s safe and easy-to-use wallet to hold their Bitcoins than any other.”
Without a doubt, this is a major boost for Blockchain Ltd itself as users concern for security of their coins are further allayed.