Twitter CEO Jack Dorsey backs $10M round for crypto startup CoinList
October 30, 2019, 6:01AM EDT
1 min read
Token sales platform CoinList has raised $10 million in a new funding round, with backing from Twitter CEO Jack Dorsey.
The round was led by venture firm Polychain Capital, according to a report from the Wall Street Journal on Wednesday. With the new capital in place, CoinList is planning to launch a cryptocurrency exchange, CoinList Trade, and a cryptocurrency wallet, among other services.
“Crypto needs a trustworthy platform for launching new projects. CoinList leads the industry in that role, and trading is a logical next step,” said Dorsey, who has been a vocal bitcoin advocate.
Dorsey also serves as the CEO of payments company Square Inc., which launched a separate cryptocurrency unit, Square Crypto, earlier this year. Square Crypto wants to design bitcoin for all so that the cryptocurrency eventually becomes a daily-use currency for masses.
CoinList co-founder and president, Andy Bromberg, recently appeared on The Block’s podcast, The Scoop, and said that more traditional assets will be tokenized, although “it’s way further out than people are giving it credit for at that time.”