Bitcoin Financial Services Provider River Announces $35 Million Series B Fundraising Round
Bitcoin technology and financial services company, River, has announced a successful $35 million equity round in its Series B fundraising effort. Led by Kingsway Capital, the round also saw participation from notable inv...
Archive context
Older archive item. Useful for background and entity history, but not a fresh market-moving signal.
Bitcoin technology and financial services company, River, has announced a successful $35 million equity round in its Series B fundraising effort. Led by Kingsway Capital, the round also saw participation from notable investors such as Peter Thiel, Cygni, Goldcrest and Valor Equity Partners. The company provides a range of Bitcoin services, including zero-fee recurring orders, full-reserve custody, mining and a Bitcoin wallet that supports both on-chain and Lightning Network transactions.
Alex Leishman, the CEO of River, highlighted the growing interest in Bitcoin driven by business and institutional adoption. He emphasized the importance of Bitcoin as a secure path to a stronger and more transparent global economy, especially in light of recent bank failures and bailouts. Leishman stated, "Adopting Bitcoin with a trusted partner is no longer the speculative choice, but rather the prudent one."
According to a press release sent to Bitcoin Magazine, River has experienced significant growth in demand for its enterprise Lightning API, River Lightning. This API enables companies to integrate with the Lightning Network and facilitate instant Bitcoin payments. Notably, El Salvador's Chivo wallet relies on River Lightning for Lightning transactions. The surge in demand for Lightning transactions, driven by rising on-chain fees, has prompted River to expand its B2B River Lightning segment.
Leishman emphasized River's commitment to responsible and reliable practices, setting the company apart from others in the crypto industry. He noted, "We have not taken shortcuts or reckless risks with our regulatory strategy and product offering. We're a mission-driven company with full-reserve Bitcoin custody, and will continue to play our part in moving society towards a brighter economic future powered by Bitcoin."
Why this matters
This bitcoin story adds another data point to the current market tape and is useful when read alongside nearby source coverage.
Original source
Read on Bitcoin MagazineRelated market context
71% of UK finance leaders expect tokenization to reshape financial services: Lloyds
A Lloyds survey found that faster payments and settlement are the most significant perceived benefits of tokenization, as the UK b...
True Markets Launches Tokenized Equity Trading, Starting with Nvidia
True Markets has launched an on-chain orderbook for tokenized equities, starting with Nvidia against USDC.The DeFi Orderbook is de...
Chainlink And Swift Demo Automated Tokenized-Equity Dividends Across Four Blockchains
TL;DR Chainlink built a Swift Hackathon solution that automated a cash-dividend workflow for tokenized equities across four blockc...
OpenWorld Begins Nasdaq Trading As VerifyMe Deal Creates Public Tokenization Company
TL;DR OpenWorld and VerifyMe have completed their business combination, with the combined company trading on Nasdaq under OPNW fro...
Nico Lechuga: Bitcoin Will Revolutionize the $4T Private Equity Industry
Bitcoin Magazine Nico Lechuga: Bitcoin Will Revolutionize the $4T Private Equity Industry Traditional private equity is always on...
New SEC crypto rules threaten small advisers, but big firms win
The US Securities and Exchange Commission’s proposed crypto custody fallback could broaden investment choices while making them ea...