Capital One invests in Synonym – Synonym Investment
Capital One invested in Synonymous Investment, a new digital asset exchange, after it received a $100 million Series C investment from the company.
The investment will help the exchange develop a broader platform that will facilitate the exchange’s new digital assets.
Synonym is currently the largest cryptocurrency exchange in the world, and the company also offers digital asset trading, digital currency trading, and trading of tokens.
The company has been building up a reputation for building a stable and secure platform for its customers and its clients, with its investments in cryptocurrencies, blockchain technology, and blockchain startups.
The investment comes after the company has had an upswing in the cryptocurrency space recently, increasing its valuation by more than $30 million since the end of March.
Synonymous is an exchange that is currently growing its digital asset holdings from $500 million to over $1 billion in the last two years.
The Synonym investment is part of the company’s efforts to diversify its offerings to more customers and investors, according to the company, and it is the second major investment in the digital asset marketplace.
In February, the company announced that it had completed a Series C round of $200 million.
That round was led by Sequoia Capital.
The company was founded in 2014, and is currently valued at $12.4 billion.
Synonym currently has more than 250,000 customers on its platform, according the company website.