Blockchain.com Raises $300 Million at $5.2 Billion Valuation

Crypto services company Blockchain.com has raised $300 million in series C financing, the company announced on Wednesday.

The funding round was led by Yuri Milner's DST Global, along with Lightspeed Venture Partners and VY Capital.

Blockchain.com’s announcement comes on the heels of a $120 million raise last month, in what the firm called a “strategic growth round.” At the time, Fortune reported the company was worth $3 billion.

Now, Blockchain.com is touting a post-money valuation of $5.2 billion.

The company says it is "highly profitable" and that acquisitions could be on the way. "With one of the most significant balance sheets in the industry, we plan to aggressively expand the products we offer our customers, grow our global team, and pursue M&A opportunities to bring exciting new products and ideas into the company," Blockchain.com CEO Peter Smith said in the release.

Its products include Bitcoin wallets, as well as a crypto exchange and blockchain analytics site. Blockchain.com touts more than 31 million verified users and said in the release that it has seen a "3x increase in active users over the past 12 months alone."

Fees on the exchange are tiered, with lower rates for larger liquidity providers. Blockchain.com also offers “customized fee arrangement[s]” for its most active market makers. The exchange’s trading volume over the past 24 hours has been around $38 million; in the same window, Binance and Coinbase have seen $24 billion and $2 billion, respectively.

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In another sign that the company is ramping up, Blockchain recently added Jim Messina—White House deputy chief of staff for operations during President Obama’s first term—to its board of directors.