The Series A financing was raised from private investors in 33 countries, the firm said in an embargoed press release. It added further that it had completed its first regulated securities offering with the Luxembourg regulator CSSF.
According to Blocktrade, the capital is to be invested in improving operations, in the areas of security, fiat gateway and market-making, among others. It also plans to launch a B2C campaign during the year to expand its customer base. B2B partnerships through which Blocktrade distributes white label features are also planned as is a service to support startups in regulated capital raising to establish a liquid secondary market.
Started in 2018 Blocktrade was acquired and rebuilt by Cryptix until 2020 and funded by an international group of investors in 2021.
CEO Bernhard Blaha said: "Blocktrade is more than a classic crypto exchange: we are building a complete ecosystem around digital assets, which provides our users with much more than just access to trading tools".