Blockchain Capital, Coinbase and others invested $25.5 million in Libra Association member

  • The company will use the funds to finance business development.
  • It will collaborate with other Libra Association partners.

The blockchain company Bison Trails, a member of the Libra Association, raised $ 25.5 million in a Series A funding round. The round was led by Blockchain Capital, with Kleiner Perkins, Coinbase, Consensys and Galaxy Digital among the participants.

According to The Block, Bison Trails provides a ready-made infrastructure to reduce the cost of deploying blockchain projects. Currently, the platform operates in a closed beta mode, but the company claims that it has more than 20 clients.

Bison Trails CEO Joe Lallows said the raised funds will bee used for business development and staff growth. The company will also use funds to develop a new network roadmap for several projects. Libra, Telegram, Skale and Polkadot are among them.

According to Lallouz, Bison Trails intends to actively collaborate with other founders of the Libra Association in the development of Facebook's digital currency technology “from the test network to the launch of the core.”

Notably, Libra developers have already launched the main network in preliminary mode.

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