Coinbase and Gemini back Onramp Invest in $6m round

Coinbase and Gemini back

Investment platform Onramp Invest has raised $6 million in a seed round of funding with the venture arm of exchange Coinbase and Gemini Frontier Fund.

.@Onrampinvest, an #iPaaS #technology firm that provides access to #crypto assets for #RIAs, announces it has raised $6M in seed fundraising from @coinbase Ventures, @eternacapital, Fox Ventures, and more.

Galaxy Digital, Galaxy Fund Management, Eterna Capital, Fox Ventures, Ritholtz Wealth Management and WisdomTree also participated in the round.

Onramp Invest operates as an "integration platform-as-a-service" (iPaaS), providing registered investment advisers (RIAs) in the US with access to the cryptocurrency market.

The service includes the ability for advisers to trade on behalf of their clients, providing educational resources and analytics.

The company will use the funding to increase the number of services for RIAs, explore the possibility of registering broker-dealers and expand its engineering team.

Fox Ventures managing partner Chad Foquet said the firm had invested "six times its standard investment amount" in Onramp, based on its confidence in the project's success.

Recall that consulting firm PricewaterhouseCoopers (PwC) earlier noted the consolidation of venture capital investments in cryptocurrency companies.

Trader talks about a scenario with bitcoin

Better To Invest In Bitcoin Or Chainlink? Chainlink Price Prediction: What Are Analysts Saying About Chainlink? How to Buy ChainLink if You Live in the UK.

Related Posts

Suspected masterminds of $62m cryptocurrency laundering scheme detained in Australia

Centre consortium launches USDC stablcoin on Hedera Hashgraph blockchain

Morgan Stanley chief says clients have little interest in bitcoin

Vatican criticises role of cryptocurrencies in illegal migration