Twitter CEO Jack Dorsey backs $10M round for crypto startup CoinList

Investments • October 30, 2019, 6:01AM EDT
UPDATED: October 30, 2019, 10:48AM EDT
Frederic Legrand - COMEO / Shutterstock.com

Token sales platform CoinList has raised $10 million in a new funding round, with backing from Twitter CEO Jack Dorsey.

The round was led by venture firm Polychain Capital, according to a report from the Wall Street Journal on Wednesday. With the new capital in place, CoinList is planning to launch a cryptocurrency exchange, CoinList Trade, and a cryptocurrency wallet, among other services.

“Crypto needs a trustworthy platform for launching new projects. CoinList leads the industry in that role, and trading is a logical next step,” said Dorsey, who has been a vocal bitcoin advocate.

Dorsey also serves as the CEO of payments company Square Inc., which launched a separate cryptocurrency unit, Square Crypto, earlier this year. Square Crypto wants to design bitcoin for all so that the cryptocurrency eventually becomes a daily-use currency for masses. 

CoinList co-founder and president, Andy Bromberg, recently appeared on The Block’s podcast, The Scoop, and said that more traditional assets will be tokenized, although “it’s way further out than people are giving it credit for at that time.”

About Author

Yogita Khatri is a senior reporter at The Block and the author of The Funding newsletter. As our longest-serving editorial member, Yogita has been instrumental in breaking numerous stories, exclusives and scoops. With over 3,000 articles to her name, Yogita is The Block's most-published and most-read author of all time. Before joining The Block, Yogita wrote for CoinDesk and The Economic Times. You can reach her at [email protected] or follow her latest updates on X at @Yogita_Khatri5.

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