A few years ago, most of us would probably never have believed that traditional banks would be investing in the blockchain technology. This is, however, what seems to be happening right now. Bpifrance, an important state-owned French investment bank, has recently participated in the investment of ACINQ, a Bitcoin Lightning startup that raised $8 million USD during its Series A investment round.
According to Veronique Jacq, a representant of the bank, the institution is convinced of the potential of Bitcoin, which is becoming more and more obvious as time passes. The blockchain revolution is happening and the bank does not want to be outside of it.
ACINQ’s round was led by Idinvest Partners and companies such as Serena and Bpifrance also had large participation. Nicolas Debock, from Idinvest Partners, affirmed that the venture capital firm continues to look at crypto-focused companies and that it was important to see which ones were creating good products.
According to him, what really makes ACINQ stand out is that the company was not rushing its product. Instead, it was carefully developing it.
Debock also affirmed that if the Lightning Network lives up to its potential, it can be a powerful tool. Other investors certainly agree with that.
Now that the company finished this round, ACINQ has around $10 million USD to fund its projects. This will be used to hire more people to the team and to focus on creating the best possible final product. At the moment, the company operates the node with the largest capacity of the network and more improvements are on the way.