Digital Currency Grouping (DCG), i of the largest companies in the cryptocurrency industry, has completed a major secondary investment round led by Japanese financial giant SoftBank.

DCG has sold $700 million worth of shares to companies like Google'due south parent company, Alphabet, to bring its valuation to more than $ten billion, the company officially announced Monday.

"Proud to welcome SoftBank, CapitalG, Ribbit, GIC, Tribe and Emory to an already fantastic listing of DCG shareholders. And even more proud of over one,000 employees of DCG and our wholly-owned subsidiaries that made this happen," DCG CEO and founder Barry Silbert said.

In a Wall Street Periodical interview, Silbert emphasized that the investment wasn't about raising majuscule for DCG but rather an "opportunity for some for some early investors to leave and take profits." All the raised money went to the selling shareholders, and none of them sold their entire stake, the company said. Silbert, who owns about 40% in the business firm, said that he didn't sell any stock in the latest circular.

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Silbert noted that the visitor hasn't ruled out a potential initial public offering, but it'southward "not in the plans and non being discussed correct now." DCG has been profitable and is on track to top $1 billion in revenue for the year, the CEO said.

DCG is a major crypto industry company, known for operating Grayscale Investments, the world'southward biggest digital asset manager with $50 billion under direction. In mid-October, Silbert hinted that the company is making plans to catechumen its Bitcoin Trust into a spot-settled Bitcoin exchange-traded fund.