US banking giant Goldman Sachs and UK-based financial institution Barclays have invested in the crypto money platform of American billionaire Alan Howard.
Elwood Technologies, which is stated to be a crypto money platform for institutions, with the investments of Goldman Sachs and Barclays in the A series financing round. It raised $70 million and reached a valuation of $570 million.
Among the companies that invested in the company, which was founded 6 years ago, in the A Series financing round; Dawn Capital, Commerzbank and Galaxy Digital exists.
James Stickland, CEO of Elwood Technologies, made a statement on the subject:
Our ability to raise funds despite the declines in crypto prices shows that cryptocurrencies will have a long life.
said.
In addition, the CEO said, “We received investments from financial institutions that do not expect to generate large revenues in a short time.. They invest in our infrastructure” made statements.
Mathew McDermott, head of digital assets at Goldman Sachs, Noting that institutional demand for cryptocurrencies is increasing with this investmenti are expanding their assets told.