Cryptocurrency exchange EtherDelta has secured a $200 million Series A funding round led by R3, a global payments platform that aims to democratize financial transactions.
The round was led by Ripple and includes investments from Goldman Sachs and Accel Partners, along with venture capital firms Andreessen Horowitz and Sequoia Capital.
The company says the funding is for “initial, strategic and general corporate and operational growth” as well as for “additional strategic investments.”
The Ripple-EtherDelta deal will bring EtherDelta’s total funding to $200m, with the remaining $80m coming from existing equity and debt holders.
EtherDelta said it will use the new capital to further its strategic focus on “innovative technologies and product launches,” adding that “it will be our mission to deliver on our commitments to our customers.”
The company said it plans to release a new version of its token in 2019 and expand its product offerings.
“The future of the token economy is now,” said EtherDelta CEO Jeroen Dijsselbloem.
“Ether has been in the news for a while, and we are excited to be a part of this ecosystem.”
In addition to the Ripple funding, EtherDelta is working with R3 to expand its technology roadmap and provide greater transparency about the token market.
“We believe that this partnership is an important step towards our vision of bringing a more transparent, open, and frictionless token economy to the blockchain ecosystem,” Dijisselblos said in a statement.