Blockstream Corporation (HQ: Victoria, Canada; CEO: Adam Back; Blockstream), a company invested by the DG Group, centered on Digital Garage, Inc. (TSE first section: 4819; HQ: Tokyo; Representative Director, President Executive Officer and Group CEO: Kaoru Hayashi; DG) completes raising 210 million dollars in a series B financing round (increasing valuation to 3.2 billion dollars). Blockstream has been collaborating with DG Group on various projects in the crypto asset area.
Blockstream’s team consists of prominent engineers who have contributed to the development of Bitcoin itself, and are well-known for developing cutting-edge innovations with a wide range of public use including the development of a Bitcoin sidechain, the “Liquid Network.” Since its investment in 2016, DG has been engaged in a series of technical exchanges with Blockstream through DG Lab, as well as mutual development of crypto asset infrastructure. DG has also participated in the “Liquid Network” through its group company, Crypto Garage, Inc. As a result of these efforts, DG has acquired the first regulatory sandbox certification in the blockchain and financial sector, and launched the commercial service of “SETTLENET,” a payment platform specializing in the crypto asset OTC market.
Through this funding, Blockstream will advance their other innovative mining products and services, including the recently announced “Blockstream Energy” product, which maximizes renewable energy investment returns at power production sites. The new capital will also expand Blockstream’s mission to build the financial infrastructure of the future, centered on the “Liquid Network.” Also, Blockstream will promote the development of Bitcoin-focused financial products. Additionally, the new mining infrastructure will be used in many partnerships around the world, including a solar-powered mining facility to be established jointly by Blockstream and Square.
DG will continue to work with Blockstream to contribute to the development of the “Liquid Network” and the Bitcoin ecosystem.
“The collaboration between DG and Blockstream has grown to become an integral part of the development of blockchain technology and financial infrastructure in Japan and globally. Both technologies will have an impact on the crypto asset market as well as the global financial market, and will play an important role as a protocol for social infrastructure using blockchain. We will continue to contribute to the development of next-generation financial services that can be used globally through their technical capabilities and DG Lab’s engineering assets.” (DG President Executive Officer and Group CEO Kaoru Hayashi)
Blockstream is the global leader in Bitcoin and blockchain infrastructure. Blockstream’s sidechain technology (“Liquid Network”) enables faster Bitcoin settlements while empowering financial institutions to tokenize assets. “Blockstream Mining” provides enterprise-class mining facilities for the collocation of Bitcoin mining operations. The “Cryptocurrency Data Feed,” developed in partnership with Intercontinental Exchange, delivers best-in-class real-time and historical exchange data. “Blockstream Green” is the world’s most advanced consumer Bitcoin wallet. Blockstream was founded in 2014, with offices and team members distributed around the world.