Head of Ethereum incubating firm ConsenSys, Joe Lubin, announced today that its latest funding round successfully raised $65 million thanks largely in part to several blue-chip firms. This includes the UBS, JP Morgan, and Mastercard – further reinforcing the current notion that the traditional finance sector is now in active efforts to penetrate the crypto space.
Aside from the major finance entities mentioned above, ConsenSys’ investment round also notably garnered substantial funds from its fellow crypto players, including Alameda Research, Protocol Labs, and Maker Foundation.
As per ConsenSys, the latest funding round will specifically be used to upscale the organization’s partnerships with various traditional finance companies. On top of that, it also aims to position ConsenSys as the industry leader for developing brand new protocols and integrated frameworks for the Ethereum blockchain.
Lubin commented on this development by stating that the funding reflected a nice mixture of investors between crypto startup protocols, venture capitalists, and traditional finance giants. He adds that such is encouraging to see. It lets ConsenSys preserve its street cred while also managing to validate the crypto space further to the mainstream eyes.
With that in mind, ConsenSys does not only treat this latest success as just theirs but as a win for the whole crypto industry.