NYDig raises $200M from Soros, Morgan Stanley

NYDig, a financial services firm focused on Bitcoin, said it has raised $200 million from strategic partners including Soros Fund Management and Morgan Stanley.

Other investors in the growth capital round included Stone Ridge Holdings Group, New York Life, MassMutual and FS Investments. Bessemer Venture Partners and FinTech Collective, who led the two prior funding rounds for the New York-based startup, were also significant participants.

NYDig co-founder and Chief Executive Robert Gutmann said the company will be working with these firms on Bitcoin-related strategic initiatives, including investment management, insurance, banking, clean energy and philanthropy.

“The firms participating in this round are more than investors – they are partners, each well known to us for years,” Gutmann said in a statement. “These partnerships leave no doubt that institutional adoption of Bitcoin has arrived and, further, that NYDig is the partner of choice for serious financial services firms with the highest fiduciary and diligence standards. In the months and quarters ahead, look out for an explosion of innovation in Bitcoin products and services delivered by NYDig, in partnership with our new investors.”

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Source: NYDig raises $200M from Soros, Morgan Stanley – New York Business Journal