By Tom Wilson
LONDON, Nov 17 (Reuters) - Blockchain technology firm
ConsenSys said on Wednesday it had raised $200 million, at a
valuation of $3.2 billion, from investors including HSBC
and U.S. hedge fund Third Point.
Blockchain emerged over a decade ago as the technology
behind cryptocurrencies such as bitcoin. Since then, investors
have poured millions of dollars into the technology and related
companies, believing it will transform industries from finance
to commerce.
New York-based ConsenSys is a prominent startup whose CEO
and founder Joe Lubin also helped found the ether
cryptocurrency.
Its products include MetaMask, an app and web browser
extension that lets users hold and manage digital tokens, and
connect with other blockchain-based applications. MetaMask
monthly active users total 21 million, an 38-fold increase from
last year, ConsenSys said.
Such technology is widely seen as taking centre stage in the
so-called "Web3" - an emerging iteration of the internet where
blockchain-based "decentralised" apps and cryptocurrencies are
widely used.
In Web3, supporters say, individuals will have greater
control over data and will be less beholden to Big Tech.
"ConsenSys' MetaMask wallet and other tools offer a unique
platform for consumers, enterprises, and developers to engage,
build, and create on the decentralized web," said Third Point
CEO Daniel Loeb.
Ether, the second largest cryptocurrency after bitcoin, is
widely seen as a key part of Web3 as many apps are built on the
ethereum blockchain. Bets on ether's mainstream use pushed it to
an all-time high of almost $4,870 this month.
Still, many larger investors remain wary of direct
investment due to the volatility of cryptocurrencies, with some
investing instead in related infrastructure.
HSBC, Europe's largest bank, said earlier this year it had
no plans to launch a crypto trading desk or offer the asset to
customers - a move that contrasted with an embrace of the tech
by rivals such as Goldman Sachs.
(Reporting by Tom Wilson; Editing by Emelia Sithole-Matarise)
HSBC Holdings (HSBA)