Jack Dorsey, the pro-bitcoin CEO of social media platform Twitter and of payments startup Square, has participated in CoinList’s $10 million funding round.
The round involved other investors and was led by Polychain Capital. According to the Wall Street Journal CoinList, a crypto token sales platform, is planning to use the funds to launch a cryptocurrency exchange called CoinList Trade, a cryptocurrency wallet, and more.
Dorsey, who’s a known bitcoin proponent, stated:
Crypto needs a trustworthy platform for launching new projects. CoinList leads the industry in that role, and trading is a logical next step.
Dorsey’s payments firm Square has notably launched a separate cryptocurrency unit called Square Crypto, which is looking to help boost cryptocurrency adoption to help BTC become a currency used on a daily basis.
Notably earlier this month Dorsey revealed during a “Fireside Chat” to Ben Smith, BuzzFeed’s Editor-In-Chief, he wasn’t planning on joining Facebook’s proposed cryptocurrency Libra, going as far as saying it was wrong for the social media giant to refer to Libra as a cryptocurrency.
Per The Verge Dorsey doesn’t like Libra because it’s “not an internet open standard that was born on the internet. It was born out of a company’s intention, and it’s not consistent with what I personally believe and what I want our company to stand for.”