Cryptocurrency firm 21. co raises $25 million to change its valuation to 2 billion

21. co, the parent of 21Shares, has secured $25 million in funding valued at two billion dollars.

It is a statement from 21.co: "With this round of financing, 21. co will continue to drive rapid, targeted growth through first-of-their-kind products, key market expansions, and strategic talent acquisitions."

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The post-money valuation makes 21. co Switzerland's most giant crypto unicorn.

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The project has been funded by a mixture of investors from private equity, venture capital, and financial services companies. Unfortunately, cryptocurrencies have plummeted in value so far this year.

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The company declared on Tuesday the new name for the 21. co corporation currently holds most subsidiary businesses, such as 21Shares and Onyx.

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The company has had $650 million in net new assets over the year since September. Assets under management peaked at $3 billion in November.

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It was growing the company by 75% in headcount, 21. co has increased its numbers to support its rapid business growth. In addition, 21Shares hired Sherif El-Haddad, based in Dubai, to expand in the Middle East region.

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As a crypto hub, the United Arab Emirates has gained ground as several major crypto companies have set up their capital of commerce, Dubai. Even so, their means of Abu Dhabi is also looking to regulate the industry.

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