Fintech company Lunar raises $77M and launches crypto trading platform

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Nordic-based fintech company – Lunar – has closed a $77 million funding round. The organization reached a valuation of $2 billion and introduced a cryptocurrency trading platform.

Lunar dives into the crypto industry

Danish company Lunar secured $77 million in Series D-2 funding, bringing the series total to $310 million. The investment was led by leading backers such as Heartland, Kinnevik, Tencent and IDC Ventures.

Along with funding, through which Lunar surpassed a $2 billion valuation, the company revealed the launch of a blockchain arm and a cryptocurrency trading platform. Ken Klausen – Founder and CEO – expressed hope that the initiative will help customers who struggle “to use multiple platforms for their needs”.

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

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

Additionally, Klausen predicted that the future of money is closely tied to Web3 and Metaverse. Lunar’s platform will explore how “cryptography and blockchain technologies can benefit our customers to take payments and banking to the next level,” the executive noted.

Founded in 2015, Lunar extends its services to Denmark, Norway and Sweden. It received a European banking license in 2019 and currently has over 500,000 customers.

The Cryptographic Environment in Scandinavia

The northern region of Europe, where Lunar is headquartered, is rarely in the spotlight of the cryptocurrency industry.

In Denmark, bitcoin and altcoins can be used as a payment tool, as an asset, and as property. The government allows locals to use crypto to perform any lawful activity, as well as the exchanges that support it.

However, Denmark’s central bank governor – Lars Rohde – is not BTC friendly. 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 treats digital assets the same as any other income or wealth when it comes to the personal tax base. It’s safe to say that some of the politicians there are supporters of the sector. On the one hand, the Norwegian Minister of Climate and Environment – Sveinung Rotevatn is a bitcoin HODLer.

Sweden, another country in the Scandinavian region, has focused its efforts on launching a central bank digital currency (CBDC). His government has already researched the issue as the e-krona is expected to see the light of day by 2026.

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