Lunar Fintech Company Raises $77 Million and Launches Crypto Trading Platform

The Nordic-based financial technology firm – Lunar – closed a $77 million financing round. The company was valued at $2 billion and launched a cryptocurrency trading platform.

Lunar Dives into The Crypto Industry

The Danish company Lunar secured a $77 million Series D-2 funding round, bringing the series’ total to $310 million. This investment was led and managed by IDC Ventures, Heartland Ventures (Kinnevik), Tencent, Heartland Ventures and Tencent.

Lunar raised $2 billion in financing. The firm also announced the launch of a crypto trading platform and a blockchain arm. Ken Klausen – Founder and CEO – raised hopes that the initiative will aid customers who struggle “to use multiple platforms for their needs.”

“We are excited to bring crypto to our universe of banking, payments, and investments,” he emphasized.

Initially, Lunar’s users will be able to buy and sell Bitcoin (BTC), Ethereum (ETH), Polkadot (DOT), Dogecoin (DOGE), and Cardano (ADA).

Klausen also predicted that Web3 and Metaverse will be the key to the future of money. Lunar’s platform will explore how “both crypto and blockchain technology can benefit our customers to enter the next level of payments and banking,” the exec outlined.

Lunar was founded in 2015 and offers its services to Sweden, Norway, Denmark, and Denmark. It has more than 500k customers and received a European bank license in 2019.

The Crypto Environment of Scandinavia

Lunar’s headquarters is in Europe’s Northern region, which is often overlooked by the cryptocurrency industry.

Bitcoin and other altcoins can be used in Denmark as a payment instrument, an asset, or as a good. Locals are allowed to use crypto for any legal activity.

However, the governor of Denmark’s central bank – Lars Rohde – is not in favor of BTC. Last year, he called it “very speculative.” At the same time, he argued, “there is no stability and no guarantee from any side about the value of cryptocurrencies.”

Norway considers digital assets to be the same as other income and wealth in terms of personal tax base. Some politicians are known to be supporters of the sector. For one, Norway’s Minister of Climate and Environment – Sveinung Rotevatn is a bitcoin HODLer.

Sweden, another Scandinavian country, has directed its efforts toward launching a digital currency central bank (CBDC). The Swedish government has already begun research and the ekrona is due to be launched by 2026.

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