Nydig, a NYC-based provider of technology and investment solutions for Bitcoin, raised $200m in growth funding.
The round was led by Stone Ridge Holdings Group, Morgan Stanley, New York Life, MassMutual, Soros Fund Management, and FS Investments. Bessemer Venture Partners and FinTech Collective, who led the two prior funding rounds, also participated.
The company intends to use the funds to expand its business reach.
Led by Robert Gutmann, co-founder and CEO, and Ross Stevens, founder and Executive Chairman, Nydig provides Bitcoin investment and technology solutions to insurers, banks, corporations, institutions, and HNW individuals.
The company also announced today that life, annuity, and property & casualty insurers now own, in aggregate, more than $1 billion of direct and indirect bitcoin exposure facilitated exclusively and held on its secure, audited, and insured institutional custody platform.