Bitcoin payment processor Coinbase says raises $75 million

Tue Jan 20, 2015 11:11am EST
 
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NEW YORK Jan 20 (Reuters) - Bitcoin payment processor Coinbase said on Tuesday it has raised $75 million from several major financial institutions, including the New York Stock Exchange, USAA Bank, and Spanish banking group BBVA.

In a statement, Coinbase said funding for this round was led by DFJ Growth, with participation from existing investors such as Andreessen Horowitz, Union Square Ventures, and Ribbit Capital.

Vikram Pandit, former Citigroup Inc chief executive officer, and Tom Glocer, former Thomson Reuters CEO also participated in the latest capital-raising.

The $75 million total was the largest funding round to date for a bitcoin company, according to Coinbase, which added that the total capital raised so far amounted to $106 million.

The latest round, which also included an investment from NTT DoCoMo Inc, Japan's largest mobile telecommunications operator, will help accelerate international expansion.

Aside from processing bitcoin payments, Coinbase also provides wallet services for holders of the digital currency. (Reporting by Gertrude Chavez-Dreyfuss; Editing by Jeffrey Benkoe)