Updated: 2 days ago
Zug, Sept 7, 2022 – With a new valuation of around USD 2 billion, 21.co has become the largest unicorn of the Crypto Valley in Switzerland. 21.co is the new parent company of 21Shares from Zug, the world’s largest cryptocurrency product issuer, as well as its platform Onyx and the token business Amun. 21.co is a member of Home of Blockchain.swiss.
21.co has secured USD 25 million in a funding round led by London-based hedge fund Marshall Wace. The company with headquarters in the Crypto Valley in Zug and offices in Zurich and New York has now been valued at around USD 2 billion as a result. This makes it the largest crypto unicorn in Switzerland.
21.co was newly established as a parent company in parallel with the funding round. Its largest subsidiary is 21Shares, the world’s leading issuer issuer of cryptocurrency exchange traded products (ETPs). 21.co also includes Amun, a token issuer specializing in simplified access to the decentralized world of finance, and Onyx, the platform developed by 21Shares for issuing and managing its 37 crypto ETPs (exchange traded products).
According to a press release from 21.co, these investments were raised during the ongoing “crypto winter”. In spite of difficult market conditions, 21.co ended 2021 with a nine-figure revenue run rate and constant inflows were recorded during market downturns. Over the past financial year to September 2022, 21.co recorded more than 650 million US dollars in net new assets, and in November 2021 it hit a record high of assets managed amounting to 3 billion US dollars.
21.co was founded by Ophelia Snyder and Hany Rashwan in 2018. Hany Rashwan commented: “Now, we’re he highest valued and largest tech startup in Switzerland – and we’re still only in the early days.” Ophelia Synder added: “Our drive to revolutionize the world of crypto and build bridges into the asset class is only just getting started.”
21.co is the world’s leader in providing access to crypto through simple and easy to use products. 21.co is the parent company of 21Shares, the world’s largest issuer of cryptocurrency exchange traded products (ETPs) – which is powered by Onyx, a proprietary technology platform used to issue and operate cryptocurrency ETPs for 21Shares and third parties – in addition to Amun, a token provider focused on making the DeFi world more accessible. The company was founded in 2018 by Hany Rashwan and Ophelia Snyder. 21.co is registered in Zug, Switzerland with offices in Zurich and New York. For more information, please visit www.21.co.