The blockchain developing enterprise, ConsenSys has managed to raise $65 million in funding from big banks like Mastercard, JPMorgan, and UBS. Other venture capitals focused on blockchain that took part in the funding round include Protocol Labs, Alameda Research, the Maker Foundation, and Protocol Labs. ConsenSys Blockchain Firm Raised $65 M in Funding Round ConsenSys made an announcement on Tuesday that it has secured backing from mainstream financial institutions. In addition to this, the details present in the announcement revealed that several funds added to the stablecoins based on Ethereum, USDC, and DAI. The Blockchain company that managed to thrive the long crypto winter, has been quite fluctuating in recent years from reengineering its business to layoffs. Along with that, the startup obtained Quorum, the blockchain unit of JPMorgan with affirmation from the bank of backing the project. Joseph Lubin, the Co-Founder of ConsenSys released a statement that read: “ConsenSys’ software stack represents access to a new automated objective trust foundation enabled by decentralized protocols like Ethereum.” In addition to this, the co-founder said: “We are proud to partner with preeminent financial firms alongside leading crypto companies to further converge the centralized and decentralized financial domains at this particularly exciting time of growth for ConsenSys and the entire industry.” Investment Adds Expertise in Distributed Ledger Technology Lubin started the blockchain firm with his personal funds that he acquired from Ethereum. However, it is not clear how the firm is going to utilize the fresh funds that they have received, but it has definitely managed to strengthen the base under the startup. In addition to this the Head of Group Technology at UBS, Mike Dargan said: “Our investment in ConsenSys adds proven expertise in distributed ledger technology to our UBS Next portfolio.” Moreover, Mike released a statement that read: “This investment underscores our commitment to working with fintech and the broader tech ecosystem to shape the future of banking for the benefits of our clients.”
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