A report by PwC shows revealed that funding in Indian startups dipped 40% in Q2, with digital currency startups feeling the most heat as funds dry up.
It intends to use the funds to grow its customer base and launch new products as it continues to compete with WazirX, the other major exchange in the country.
The publicly listed block reward mining operation expects gross proceeds of nearly CAD$40 million via the sale in the United States of 11,560,695 common shares.
The Hong Kong based group, which runs cryptocurrency exchange OSL, issued 45 million shares at HK$15.50, raising a total of HK$697 million—roughly equivalent to $90 million.
BC Technology Group, which owns and operates OSL, is hoping to raise the funding at a time of significant growth in demand for digital assets in local and regional markets.
Chainalysis, a cryptocurrency analysis firm, has raised $30 million in Series B funding, as the firm looks to expand into new markets in 2019.
Cryptocurrency denialists have often tried to state that digital currency only has illicit purposes, even though there is more evidence of fiat being used to fund these activities.