MoonPay, a fintech startup dedicated to building crypto payments infrastructure, is reportedly expected to reach a valuation of $three.iv billion after conducting its first round of venture capital letter funding.

The VC funding for the crypto payments startup is being co-led by Tiger Global Management and Coatue Management and will inject funds worth $400 1000000 into the bootstrapped visitor. The MoonPay platform allows the purchase and auction of cryptocurrencies and digital assets using mainstream payment methods such as debit and credit card and local bank transfers.

While the funding data is not officially announced, a report from The Information suggests that "ii people familiar with the matter" have confirmed the evolution. Once confirmed, MoonPay will represent a modest demographic of crypto-related startups to attain unicorn-level valuation within iii years.

Tiger Global and Coatue Management accept partnered previously to fund numerous mid-sized blockchain, decentralized finance (DeFi) and crypto startups. Their latest investment was the $24-1000000 funding for CertiK, a blockchain security firm.

MoonPay declined to share annotate on the evolution.

Related: 10% of early-stage startups working on blockchain: GSER 2022

A Cointelegraph report from Sept. 22 showed a growing trend in blockchain and crypto investments as VCs prioritize emerging technology.

Additionally, information from Global Startup Ecosystem Report 2022 suggests that the blockchain industry has witnessed a 121% growth over the final five years, making it the 2d-fastest-growing sub-sector in terms of early-stage funding after the advanced manufacturing and robotics industry.

Moreover, crypto firms accept received more funding in the first quarter of 2022 than the whole of 2022. Talking on a related field of study with Cointelegraph, Jehan Chu, founder of Hong Kong-based VC investment firm Kenetic, said that "zilch is more compelling than peer pressure level from the likes of Michael Saylor, Elon Musk and the stampede of institutional money charging into the market. VCs must accept a position or a view on crypto, or hazard missing the biggest market opportunity in a generation."