Cryptocurrency News

Series ‘A’ Funding Brings in $10 Million for Arca

With the cryptocurrency and blockchain industry growing bigger every day, more firms and companies have started running their show in the crypto-space. Every day there is a new company or a firm announcing that they have conducted a successful funding round.

The most remarkable thing about the cryptocurrency-blockchain industry is that every startup gains enormous support and adoption from financial institutions and crypto-savvy investors.

This time it is the firm known as Arca that has announced its successful round for the funding. The firm has confirmed that it has managed to raise $10 million from the Series ‘A’ funding round that it has recently carried out.

Arca is an emerging firm that is expected to become a successful and widely adopted digital asset manager. The officials of the Arca firm have revealed that with the $10 million funding raised, it will be able to bootstrap itself for the next phase of its business strategy. The firm has revealed that their next phase will be focused on a unique target and if it works out, it will be the best step that crypto-verse will ever have taken so far.

The firm has communicated that its next phase will be an attempt to create a bridge between cryptocurrencies and traditional finance.

Arca made the announcement of its successful Series ‘A’ funding round on January 13, 2021. In the announcement, the firm revealed that its funding round was led by the venture capital firm that is known as RRE Ventures.

The announcement also carried the names of the most prominent contributors in the Series ‘A’ funding round. The names of some of the most prominent key contributors include Littlebanc Advisors’ coalition financiers ad Alex Tisch, who is Loews Hotels & Co’s president.

Arca officials have revealed what they are planning to do with the money they have raised from the Series ‘A’ funding round. Some of the most important tasks they will execute would involve enhancing digital service offerings and the platform’s infrastructure. Most importantly, the firm will ensure it stays fully compliant with the regulatory and legal requirements in the crypto-blockchain industry.

The CEO of Arca, Rayne Steinberg shared his thoughts and experience of the cryptocurrency industry in the year 2020. He stated that the cryptocurrency industry has experienced vast growth and adoption in the last year and the running year is expected to be even better.

He stated that the year 2020 has laid the very foundation of the cryptocurrency industry in the mainstream space. Now it is the responsibility of the crypto-firms and blockchain technology giants to play their role.

If the cryptocurrency industry needs to thrive and make a financial position, then it is extremely important that a bridge between crypto-verse and traditional financing is built very fast.

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