Bitmain and IDG continue to make plans, Liquid receives Series C financing with a valuation of over US$1 billion

Liquid.com, a global cryptocurrency platform, announced that it has received Series C funding, led by IDG Capital and followed by Bitmain. After this round of financing, Liquid's valuation exceeded US$1 billion. This makes Liquid one of only two technology unicorns among Japanese startups. Liquid was founded in 2014 and became a unicorn company in less than five years. It is currently the world's largest fiat currency trading platform by trading volume.

Liquid's current round of financing is Bitmain's latest investment in a cryptocurrency trading platform this year, and it is also another compliant cryptocurrency trading platform after its investment in ErisX. At the same time, the investment in Liquid also marks the continued increase in IDG Capital's investment portfolio in the cryptocurrency field. Prior to this, IDG Capital completed investments in cryptocurrency businesses including Coinbase, Circle, Ripple, Bitmain and Kakao.

Liquid CEO Gary Burson said: "As we enter a new era of digital revolution in financial services, consumers are increasingly placing a premium on trusted cryptocurrencies and technologies. Our vision is to enable more people to enter and participate in the crypto space, making financial services accessible to everyone. This Series C funding comes from two respected investors, IDG Capital and Bitmain, which will take our global influence to a new level."

Jihan Wu, co-founder of Bitmain, said: “Japan is one of the leading countries in the legalization and compliance of the cryptocurrency industry. Liquid Group has proven itself to be a model for the legalization and compliance of the cryptocurrency industry, and has a very unique advantage in the global competition.”

IDG Capital Partner Guo Yihong said: "Since 2012, IDG has been actively investing in the global cryptocurrency sector and investing in industry-leading companies early on. We have gradually realized that Tokyo has become one of the top places for industry innovation, and we are honored to support visionary pioneers such as Liquid co-founders Gary Burson and Mario Gomez Lozada to lead innovation.

Prior to this round of financing, Liquid had raised more than $20 million, including leading Japanese investment companies JAFCO, SBI, B Dash Ventures, Mistletoe (private VC fund of Masayoshi Son's younger brother Taizo Son) and ULS Group. In 2017, Liquid raised more than $100 million in ICO, which was the first legal ICO completed in Japan. The funds from the C round of financing will be used to promote Liquid's global expansion, core trading business development and entry into the securitization token market.

Liquid was founded in 2014 and is a leading global fintech company and the first global cryptocurrency exchange to be officially licensed by the Japanese Financial Services Agency. Currently, Liquid has become the world's largest fiat currency trading platform with offices in Japan, Singapore and Vietnam, combining a strong local partner network with rich banking and financial product team experience to provide customers with first-class financial services.