True Global joins $42.5m round of French crypto firm

Coinhouse, a France-based digital assets service provider, has raised 40 million euros (US$42.5 million) in its latest funding round, which saw participation from ODDO BHF and True Global Ventures 4 Plus, among other investors.

Photo credit: Ralf Liebhold / Shutterstock

Coinhouse will use the funds to develop more crypto asset management products and accelerate its international expansion to tap external growth opportunities. This includes making crypto payments more intuitive and accessible for individuals and businesses as well as simplifying transactions and digital asset management through Web3.

“Traditional players in the financial world and capital investors are beginning to grasp the enormous potential of the crypto market, despite the cycles and upheavals linked to its innovation potential and its youth,” said Nicolas Louvet, CEO of Coinhouse.

Founded in 2015, the company provides retail and corporate crypto asset investment services. It currently supports over 20 major French and international brands with a way to securely hold land in the metaverse and convert crypto payments into euros during the sale of digital assets.

Other investors in the round include

• Tioga Capital
• XAnge Siparex Innovation
• Raise Ventures
• CF Partners
• ConsenSys
• Expon Capital

See also: Can Stepn, the new hottest crypto project, go the distance?

Currency converted from euro to US dollar: US$1 = 0.94 euros.