Crypto industry stalwart Bitcoin.com has raised $33.6 million in a private sale of its VERSE token.
The company provides crypto exchange services, educational resources, a non-custodial wallet and news around crypto and blockchain.
Bitcoin.com said the token rewards users for participating in its ecosystem, such as buying, selling and swapping digital assets.
The strategic investors include Digital Strategies, Blockchain.com, Kucoin Ventures, Redwood City Ventures, 4SV and Boostx Ventures. Individual investors Jihan Wu, Roger Ver and David Wachsman also participated.
A public token sale will follow this summer.
“Since 2015, Bitcoin.com has been a leader in introducing newcomers to crypto and guiding them along their crypto journey,” said CEO Dennis Jarvis. “So far we’ve built an incredible portfolio of products and services that count more than 4m monthly active users and 30m self-custody wallets created.
“Today, we’re proud to announce VERSE, a utility, and rewards token for everyone who participates in the ready-built Bitcoin.com Verse ecosystem.
“VERSE is user-centric and adds tremendous value across our range of crypto products and services including the Bitcoin.com self-custody wallet app, the Bitcoin.com Exchange, the Verse DEX, Bitcoin.com News, and our upcoming crypto-enabled debit card. We’re also extremely excited to announce the Verse public token sale, which is scheduled to begin in June.”
VERSE users will gain utility from things like yield farming on the Verse DEX, trading via the Bitcoin.com Exchange, staking tokens in contracts and earning VERSE from a variety of Bitcoin.com’s current services.
Justin Chou, the chief investment officer at Kucoin Ventures, added: “The next wave of growth in crypto will be led by strong global brands that create real-world products for millions of people.
“Bitcoin.com will accelerate the development of products and partnerships that expand their reach globally.”