Banking giants Goldman Sachs (NYSE:GS) and the United Kingdom’s Barclays (LON:BARC) have joined a $70 million Series A funding round for the institutional crypto trading platform Elwood Technologies, founded by billionaire British hedge fund manager Alan Howard.
Joining the round was crypto-friendly German bank Commerzbank (ETR:CBKG), crypto investment manager Galaxy Digital and Dawn Capital, as reported by the Financial Times on Sunday. The fundraising round valued the company at around $500 million, according to the report.