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.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News

Latest Crypto News & Analysis

Editors’ Picks

Polkadot: Must reclaim key level for a chance to see new all-time highs

Polkadot price is contained inside a symmetrical triangle pattern on the 4-hour chart. The digital asset faces a key resistance level which could be the key to new all-time highs. Investors are interested in Polkadot as a potential alternative to Ethereum in the long-term.

More Polkadot News

VeChain: Edges closer to a breakout

VET price is consolidating in a descending parallel channel on the 1-hour chart. A decisive close above $0.048 will signal a breakout from the consolidation pattern and trigger a quick 5.65% upswing.

More VeChain News

Ocean Protocol’s latest developments could provide OCEAN price tailwind for a 60% upswing

Ocean Protocol announces a collaboration with Benchmark protocol to expand the DeFi data economy. Now, it's price needs to reset before it goes on a 60% bull rally to new highs.

More Cryptocurrencies News

Fundamentals grow strong despite crypto market-wide correction

Kraken CEO believes Bitcoin will hit $1 million. Leading brokerage firm Charles Schwab is planning to roll out crypto trading services.

More Cryptocurrencies News


Bitcoin Weekly Forecast: BTC journey to $100,000 might be easier than expected

This past week has been extremely beneficial for Bitcoin which jumped by 30% since Monday 8. Several positive announcements, especially Tesla purchasing $1.5 billion worth of the digital asset propelled the flagship cryptocurrency to new highs.

Read the weekly forecast