On April 6, Coin Metrics announced that it has raised $35 million in Series C funding which was led by Acrew Capital and BNY Mellon including other investors like Cboe Global Markets and Brevan Howard Digital.
The aim of raising this funding was to improve their infrastructure, and to work on Decentralized Finance (DeFi) and other Dapp metrics. It will also help the leading provider of crypto financial intelligence to improve the digital assets data intelligence product innovation. Tim Rice, the co-founder, and CEO of Coin Metrics have said that this funding will help them develop their business and product roadmap, and will also enable them to invest in unique “novel risk”.
The Chief Risk Officer of BNY Mellon Asset Servicing & Digital said that for the launch of digital asset services, it is important for them to build a strong risk management framework. She further added, “Our strengthened alignment with Coin Metrics is another example of how we are leveraging leading technology solutions to develop this critical capability. With Coin Metrics, we have the opportunity to advance the capabilities and conversation, and ultimately raise the bar on risk management for digital assets as an industry.”
The founding partner of Acrew Capital, Mark Kraynak said that the services offered by Coin Metrics will help in the mass adoption of crypto and its introduction into the mainstream. He also expressed that the team is excited to help Coin Metrics to help create its “institutional quality infrastructure.”