Blockstack Raises $23M for SEC-Qualified Token

Blockstack, an “open-source decentralized computing platform,” just revealed that its SEC-qualified cryptocurrency token just ended its offering and raised $23M in funding.

This also marked the very first time that US-based retail investors were allowed to participate, hence the SEC qualified moniker.

“More than 4,500 individuals and entities participated in the 2019 token offerings,” reads the post. It continues:

“Blockstack PBC has entered into agreements for more than $23M in these offerings (including both our SEC-qualified token offering and our offering to investors outside the United States made under Regulation S). Investors include Union Square Ventures, Lux Capital, Recruit Holdings, Arrington Capital, Hashkey Group, Fenbushi Capital, Frontier Ventures, Spartan Group, and other funds.”

The group also brought in a good amount of Asian investors, with Hashkey and SNZ being the leading ones. Then Recruit, one of the largest internet companies in all of Japan, is helping Blockstack out with its market in that country.

Related: Check out our guide on how to buy Bitcoin with PayPal.

Now, the biggest focus is on the United States – a tough area for anything blockchain or cryptocurrency trading related:

“One of our goals for working with regulators in the United States was to open up our network to a broader audience. We wanted to reach more retail investors who can be users of the Blockstack network. These users have a financial stake in the success of our ecosystem. We’re proud to deliver on our commitment to permit early community members who tried participating in 2017 but did not reach the wealth or income requirements for “Accredited Investor” status. These early community members were able to participate now at the same price as the 2017 Regulation D offering to Accredited Investors.”

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Max Moeller

Cryptocurrency and games writer. Looking to the future by studying how these two industries can blend. LinkedIn: https://www.linkedin.com/in/maxwell-moeller-912044b4/

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