Consensys raises an additional $ 200 million from HSBC and Third Point, bringing the valuation to $ 3.2 billion

November 18, 2021 - Around 2 mins mins to read

Consensys – a blockchain technology company – announced that it recently raised hundreds of millions of dollars from companies including HSBC and Third Point. HSBC is Europe’s largest bank, while Third Point is a US-based hedge fund with $ 17 billion in assets under management.

Consensys has announced The results of the latest funding round were published on Wednesday in a blog post that raises the company’s valuation to $ 3.2 billion.

Consensys focuses on building an infrastructure around the Ethereum network in order to create better access to “Web 3” – the world of native, decentralized Internet organizations. One of their most popular products is the MetaMask wallet, which has skyrocketed and now has 21 million monthly active users.

Daniel S. Loeb, CEO and founder of Third Point LLC, sees potential in the growing Web 3 ecosystem:

“ConsenSys MetaMask Wallet and other tools provide consumers, businesses and developers with a single platform to engage, build and create on the decentralized web. We are excited to work with ConsenSys to unleash the limitless potential of Web 3.0. ”

Marshall Wace CEO Amit Rajpal, meanwhile, said he believed in the exponential growth potential of Defi and NFT. In addition to the decentralized financing, Consensys is working on promoting the acceptance of NFT among content creators, game publishers and artists.

HSBC’s contribution to blockchain development is particularly compelling. The bank insists it has no plans to offer a crypto trading desk to its clients earlier this year and has even banned accounts from sending funds to crypto exchanges in the past.

In addition to Consensys, an unprecedented amount of capital has flowed into crypto-focused institutions this year. For example, FTX, one of the most popular exchanges, recently raised $ 420.69 million and is currently valued at $ 25 billion.