Crypto startup CoinList has raised $10M to launch a crypto exchange with the support of Twitter CEO Jack Dorsey.
Proceeds from CoinList’s latest fundraising round, led by San Francisco-based Polychain Capital, will be allocated to the further development of their new exchange, CoinList Trade, as well as their crypto wallet.
CoinList, based in San Francisco, has been around since 2017 and acts as a platform for different startups to raise capital through the selling of tokens, among other things. According to a report from The Wall Street Journal, CoinList connects blockchain-related companies that have passed through an extensive regulation-specific inspection process with interested investors, and, since its launch over two years ago, it has successfully raised more than $800M worth of tokens for projects like Blockstack, Filecoin, Algorand and Dfinity.
As the WSJ reported today, Dorsey is an avid advocate for Bitcoin and one of several investors that have jumped on CoinList’s latest venture, which has raised $10M. Dorsey also acts as CEO of payments company Square, which dived into crypto earlier this year with Square Crypto. Referring to CoinList, the Twitter CEO stated that the startup leads the industry when it comes to trustworthy platforms for launching new projects and that “trading is a logical next step” for the company.