Nordic neobank Lunar revealed a $77 million funding round headed by Heartland. Besides, it also informed about its plan of launching new cryptocurrency trading capabilities. At the time of the platform’s introduction, users may trade bitcoin (BTC), ether (ETH), DOGE, ADA, and DOT.
Neobank Lunar cryptocurrency introduction plan
The funding, an expansion of its $210 million Series D investment in July last year, will be used to sustain momentum as the business rolls out cryptocurrency trading tools, a standalone blockchain arm, and considers M&A in the Nordics, according to a press statement.
In an interview with TechCrunch, Owner and CEO Ken Villum Klausen stated that introducing cryptocurrency trading features will help the firm stand out in a sector where entrenched companies have already gone digital. Lunar will accept BTC, ADA, ETH, DOGE, and DOT.
“It is inconvenient for Nordic customers to utilise several platforms for their demands,” stated Villum Klausen in a statement. Lunar, like Monzo and Revolut, promises to be a one-stop-shop for finance. It already provides banking services, loans, lending products such as BNPL, and stock and ETF investments.
The company’s new blockchain division will investigate how crypto and blockchain technologies may boost its current client offering.
The announcement comes in the wake of many neobanks entering crypto space. Revolut has long provided crypto investing options, and it is said that it is considering developing a native coin. N26, a German company, is said to be working with Bitpanda to build a crypto trading platform.