May 24, 2022

Coinhouse aims to be “the future European cryptobank” – 01/18/2022 at 14:36

(Photo by Ozan KOSE / AFP) ( AFP / OZAN KOSE )

Coinhouse will use these funds to “diversify the product offering”, “develop its presence in Europe” and “strengthen its offer for companies and institutional investors”.

Soon a “European cryptobank”? The Coinhouse company, specializing in cryptocurrencies, is aiming for this: it announced on Tuesday January 18 that it had raised 15 million euros.

Three years after raising 2.4 million euros, this second round of funding was led by the investment fund True Global Ventures.

CF Partners, XAnge, Raise Ventures, Expon, ConsenSys AG and “leading business angels” are among the investors.

“Diversifying the product offering”

Formerly known as Maison du bitcoin, Coinhouse will use these funds to “diversify the product offering”, “develop its presence in Europe” and “strengthen its offer for companies and institutional investors”, specified the company in a press release.

“They have shown strong profitable growth and are very well positioned, with high quality service in France and Europe, to accommodate the new demand from high net worth individuals, family offices and corporates to invest in digital assets,” said commented Frank Desvignes, partner at True Global Ventures, to justify this operation.

Coinhouse currently offers management and transaction services on 43 cryptoassets.

Bitcoin briefly below $40,000

Monday, January 10, bitcoin briefly fell below 40,000 dollars, the lowest since the end of September. The cryptocurrency suffered in the early sessions of 2022 from a lack of appetite for risk from investors worried about the Fed tightening monetary policy.

Since the beginning of the year, bitcoin has lost almost 12% of its value.

The first cryptocurrency had benefited at the end of 2020 and in 2021 from the flood of liquidity which flooded the markets due to the ultra-flexible monetary policy of the American Federal Reserve.

The prospect of a hardening of the latter, to counter inflation, weighs on the contrary on the bitcoin, as on the world stock exchanges.

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