Cryptocurrency exchange Coinmetro announced that it has raised $ 7 million in a strategic funding round worth $ 180 million. Coinmetro said that the funds raised came from three angel investors and more than a hundred shareholders, adding that this funding round heralds the Series A round that will take place next year. The team, which said that the funds raised will be used to expand its operations in the US, UK and Europe, also plans to create a passive income system to help its customers who are struggling due to the exchange, inflation and interest. Coinmetro founder and CEO Kevin Murcko said:
“After a peculiar year for cryptocurrencies, as indeed for most currencies, we are expecting further volatility ahead, but there’s still growth to be had for those that see links where the next phase of evolution will come from market dynamics and crypto.”
Coinmetro is an Estonian-based cryptocurrency exchange founded by Kevin Murcko in 2018 and supported by the Estonian Financial Intelligence Unit. It is also registered with the financial regulators of the countries to operate in their countries in the USA, Canada and Australia.