08 Mar, 2021, 08:00 ET
NEW YORK, March 8, 2021 /PRNewswire/ -- NYDIG, a leading provider of technology and investment solutions for Bitcoin, today announced a $200 million growth capital round led by strategic partners Stone Ridge Holdings Group, Morgan Stanley, New York Life, MassMutual, Soros Fund Management, and FS Investments. Bessemer Venture Partners and FinTech Collective, who led the two prior funding rounds for NYDIG, were also significant participants.
Robert Gutmann, co-founder and CEO of NYDIG, said, "The firms participating in this round are more than investors – they are partners, each well known to us for years. NYDIG will be working with these firms on Bitcoin-related strategic initiatives spanning investment management, insurance, banking, clean energy, and philanthropy. These partnerships leave no doubt that institutional adoption of Bitcoin has arrived and, further, that NYDIG is the partner of choice for serious financial services firms with the highest fiduciary and diligence standards. In the months and quarters ahead, look out for an explosion of innovation in Bitcoin products and services delivered by NYDIG, in partnership with our new investors."
As an example of accelerating institutional Bitcoin adoption, NYDIG also announced today that life, annuity, and property & casualty insurers now own, in aggregate, more than $1 billion of direct and indirect bitcoin exposure facilitated exclusively by NYDIG, and held on NYDIG's secure, audited, and insured institutional custody platform.
Ross Stevens, founder and Executive Chairman of NYDIG, continued, "I am thrilled by what this group of incredible investors will mean for NYDIG, but especially for Bitcoin."
NYDIG provides Bitcoin investment and technology solutions to insurers, banks, corporations, institutions, and HNW individuals. The firm and its products meet the industry's highest regulatory, audit, and governance standards. Learn more at nydig.com, or connect on LinkedIn and Twitter.
NYDIG, NY\DIG, and NEW YORK DIGITAL INVESTMENT GROUP are registered trademarks of New York Digital Investment Group LLC. All rights reserved.
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