Coin Metrics, the blockchain analytics firm, has raised $15 million in a funding found led by financial giant Goldman Sachs.
It has been reported that Coin Metrics said Goldman Sachs, Castle Island Ventures, Highland Capital Partners, Fidelity Investments, Avon Ventures, Communitas Capital, Collab+Currency, and others had contributed $15 million to the analytics firm to “accelerate the company’s global expansion” as well as reach more places in the crypto market.
Goldman Sachs takes another step into the crypto space in funding Coin Metrics. https://t.co/PMrcUb0uiG — Cointelegraph (@Cointelegraph) May 5, 2021
Nic Carter, the co-founder of Coin Metrics, called the funding a “huge validation” for the firm as a provider of crypto data for institutions.
Excited to partner with Goldman! Huge validation for @coinmetrics as the full-service crypto data provider for institutionshttps://t.co/E7o2H5i28c — nic carter (@nic__carter) May 5, 2021
Mathew McDermott, Goldman Sachs Global Head of Digital Assets, who will also be joining Coin Metrics’ board of directors, said:
“Data is critical for the mainstream adoption of cryptoassets by traditional investors and financial services players.”
Goldman Sachs is continuing to seemingly warm to more companies and financial innovations of the crypto space this year. Last week, the firm identified 19 stocks from crypto and blockchain firms that had outperformed the S&P500 in the year to date.
Thus, the financial giant is also reportedly preparing to make Bitcoin (BTC) and other cryptocurrencies available to its clients in the second quarter of 2021.