ConsenSys raised $65 million from J.P. Morgan and MasterCard
Brooklyn blockchain startup ConsenSys, led by Joe Lubin, raised $65 million. Large-scale financing of the project was led by the American bank J.P. Morgan and MasterCard.
Today, the startup seeks to expand its partnerships with institutional finance companies that are accustomed to working with traditional currencies. In return, they offer their services as a leader in protocol and infrastructure development for Ethereum.
According to Lubin, he is pleased with the team of investors that has “gathered” around the ConsenSys project. Among them are venture capitalists and representatives of new blockchain protocols, which will become a “good balance” between the traditional economy and the crypto community.
Today Lubin's team is doing great. Not least because of the soaring prices for Ethereum, which grew by more than 1200% over the year. The MetaMask wallet became the leading brainchild of ConsenSys. In addition, the company has invested in Infura, a toolkit for creating blockchains Truffle, as well as musical NFT EulerBeats from Treum.
The burgeoning demand for financial instruments has drawn the startup to fork. In fact, there are now two companies - ConsenSys Software and ConsenSys Mesh. The first is responsible for creating software for corporations, and the second is an incubator that works with venture capital.
Lubin is convinced that in the new format economy they will take the position of a “supplier of picks and shovels”, offering them both to large firms and ordinary consumers.