Liquid.com, a Tokyo, Japan-based Global cryptocurrency platform, held the first close of an ongoing Series C funding.
The round, which puts the company valuation at over US$1 billion, is led by IDG Capital, with participation from Bitmain Technologies.
The company intends to use the funds to accelerate global expansion, product development of the core trading exchange business and enter into the security token market.
Founded in 2014 and led by CEO Mike Kayamori, Liquid operates Liquid.com, a global cryptocurrency platform that provides trading, exchange, and next generation financial services powered by blockchain technology. With offices in Japan, Singapore and Vietnam, Liquid combines a network of local partners with extensive team experience in banking and financial products to deliver financial services for its customers.
Powered by the World book, which provides customers enhanced price matching and liquidity for various fiat and cryptocurrency pairs, Liquid offers trading services for major cryptocurrencies such as Bitcoin and Ethereum against fiat currency pairs in Japanese yen, US, Singapore and Australian dollar, and Euro.
The company is developing a range of new features and services including a distributed ledger, which will allow other fintech companies to build their products and services on distributed ledger technology.
Liquid has previously raised more than US$20 million from venture funding, which includes leading Japanese investment firms JAFCO, SBI, B Dash Ventures, Mistletoe, and ULS Group.
In 2017, Liquid raised more than US$100m in a pre-discounted ICO raise, which was the first regulated ICO to be done in Japan.