Crypto infrastructure developer Qredo has received an investment of $80 million under the leadership of the famous investor Dan Tapiero’s 10T Holdings fund. After the last investment, the company reached a valuation of 460 million dollars.
Besides 10T Holdings, Coinbase Ventures, Avalanche, and Terra also led the round. In addition, names such as Kingsway Capital, HOF Capital, Raptor Group and GoldenTree Asset Management participated. Funds raised will be used for growth-focused activities such as acquisition, product development and geographic expansion.
Qredo is a crypto infrastructure startup focused on decentralized surveillance, consensus and cross-chain transactions. The company is building decentralized tools that help DeFi operators move assets across blockchains, as well as with settlement and custody.
The company’s COO, Josh Goodbody, said in a statement on the subject that venture capital firms have a huge appetite for crypto infrastructure companies:
“The infrastructure is extremely angry right now… And what you see in the background is really a race for MPC technology.”
Tapiero, founder and CEO of 10T Holdings, also made a statement, saying that “infrastructure is an important battleground in scaling crypto adoption.”
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