In 2025, the cryptocurrency and blockchain sector attracted some of the largest venture capital (VC) rounds in the fintech industry, reflecting investors’ optimism about the space’s potential to create new financial infrastructure, and deliver high‑growth returns, according to new data released by market intelligence platform CB Insights.
Of the 10 largest VC rounds of Q4 2025, four went to companies operating in digital assets, trading infrastructure, and crypto-enabled financial services, the data show. These transactions involved:
- Kalshi, a US-based prediction market platform which secured US$1 billion in a Series E in December to support further consumer adoption, integration with additional brokerages, partnerships with news organizations, and expansion of product offerings;
- Ripple, a digital assets and infrastructure company which raised US$500 million in November to expand further into payments, custody, and stablecoins;
- Tempo, a payment-focused blockchain platform backed by Stripe and Paradigm which raised a US$500 million Series A round in October; and
- Erebor, a new digital banking startup which secured US$350 million in December.
These transactions, coupled with other significant deals recorded over the rest of 2025 like Binance’s US$2 billion fundraise in March, Kraken’s US$500 million Series D in September, and Phantom’s US$150 million Series C in January, pushed the average deal size materially higher over the course of the year. In 2025, the average crypto transaction surged by a remarkable 90% year-over-year (YoY) to reach US$17.1 million, returning to 2022 levels.
Crypto exits activity accelerates
Globally, crypto VC funding increased 68.4% YoY in 2025, reaching US$19.7 billion, according to PitchBook data.
Crypto mergers, acquisitions, and public listings also surged. M&A activity notched US$7.7 billion in overall deal value across 288 transactions in 2025, compared with 234 crypto M&A transactions totaling US$2.4 billion the year prior.
Prominent crypto M&A deals in 2025 included Coinbase’s US$2.9 billion purchase of derivative platform Deribit, Kraken’s US$1.5 billion acquisition of NinjaTrader, and Ripple’s purchase of prime broker Hidden Road and corporate treasury firm GTreasury for more than US$2 billion.
Public markets reopened strongly, with at least 11 crypto initial public offerings raising roughly US$14.6 billion in 2025, versus just US$310 million from four listings in 2024, the Block reports. Notable public listings in 2025 comprised Circle, the issuer of the USD Coin (USDC) stablecoin, Bullish, a crypto exchange, and Twenty One Capital, a bitcoin-focused financial services firm.
Looking ahead, the global crypto sector is poised for further liquidity in 2026, with several startups preparing for public offerings. Kraken, a leading crypto exchange, filed confidentially for an initial public offering (IPO) in Q4 2025. Meanwhile, Consensys, the Ethereum infrastructure company behind the MetaMask wallet, and Ledger, a French manufacturer of crypto hardware wallets, have reportedly begun listing preparations.
Broader fintech funding trends in 2025
Beyond the surge in crypto deal activity, 2025 witnessed several other key funding trends. Most notably, payment tech was a key area of focus, attracting US$12.3 billion through 535 deals last year and outperforming all other verticals including digital banking, digital lending, and wealthtech.
Investment momentum in payment tech last year was driven by funding to agentic payments startups, end-to-end spend management platforms, and embedded payments APIs, with notable backing for Airwallex, Deel, and Ramp.
Prediction market startups also experienced a dramatic surge. Last year, companies in the sector secured a total of US$1.7 billion, marking a 15-fold increase. This growth was driven by market leaders Polymarket and Kalshi, which both reached unicorn status. In Q4 2025, Kalshi more than doubled its valuation to US$11 billion following its Series E, while Polymarket’s US$2 billion fundraise propelled its valuation ninefold to US$9 billion.
Overall, 2025 was a positive year for the global fintech funding landscape. The sector secured a total of US$52.7 billion, growing 35.5% from 2024 and reaching the highest level since 2022.
Although total deal count fell 19 % YoY to 3,631, the average deal size grew from US $12.9 million in 2024 to US$20 million in 2025, and the median deal size rose from US$3.5 million to US$5 million, implying larger investments into the sector.
Featured image: Edited by Fintech News Switzerland, based on image by freepik via Freepik
The post Crypto Leads Large Fintech Equity Rounds; Exit Activity Accelerates appeared first on Fintech Schweiz Digital Finance News - FintechNewsCH.
Full story here Are you the author?
You Might Also Like
Blockchain Reaches Operational Maturity at Swiss Banks, with Stablecoins Becoming the New Strategic Priority
2025-12-17
In the Swiss financial services sector, formal blockchain strategies have become standard practice and cryptocurrency services are now live, a new study by the Center for Financial Services Innovation at the University of St. Gallen, ACK, mintminds, PwC and vision&, found.
This underscores the country’s transition from blockchain experimentation to operational maturity.
The study, which polled 28 banks and financial service providers in Switzerland in Q3 2025, found that blockchain projects are no longer isolated innovation projects. Instead, they are now embedded into corporate strategies, governance, and budgeting processes, reflecting a shift from innovation hubs to core business functions.
In 2025, 86% of the banks surveyed have a blockchain strategy in place or in progress, up 28
Prediction Markets Set to Surge, Fueled by Clearer Regulations, Sector Expansion, and Blockchain Integration
2025-11-24
Prediction markets have grown rapidly, driven by regulation, a dynamic fundraising landscape, and rising mainstream adoption, especially in sports.
That momentum is projected to continue as major financial institutions enter the space, and as new markets and decentralized finance (DeFi) technologies push the sector to new heights, according to a new report by Sporting Crypto, a sports and blockchain media and intelligence company.
Prediction markets: an overview
Prediction markets are marketplaces designed to aggregate information and forecast future events by allowing participants to buy and sell contracts based on the outcome of these events. These platforms essentially allow users to “bet” on what will happen, with prices reflecting the collective belief about the probability of each
German Blockchain Funding Falls to Four-Year Low Despite $9.3B Venture Growth
2025-11-19
CV VC, together with the Frankfurt School Blockchain Center, has released the German Blockchain Report 2025, analysing venture capital activity in Germany’s blockchain sector from Q3 2024 to Q2 2025.
While overall German venture funding rose, blockchain-specific investment declined, representing the lowest share of national venture activity in four years.
Globally, venture funding reached US$411.9 billion across 21,872 deals, up 19.5% year-on-year, although deal counts fell 14.2%.
North America accounted for 63.1% of global funding.
Europe raised US$59.9 billion across 5,708 deals, down 8.7% in funding and 20.9% in deal volume, with a median deal size of US$2.5 million, below the global median.
Germany attracted US$9.3 billion across 522 deals.
Funding was up 10.4% but deal numbers fell
Crypto M&A Reaches New Record with Total Value Surging More Than 34-Fold YoY
2025-11-06
Mergers and acquisitions (M&A) activity in the cryptocurrency sector has surged in 2025, reaching record levels amid accelerating industry consolidation, deeper convergence between traditional finance and digital assets, and a more supportive regulatory landscape.
In Q3 2025 alone, the sector recorded 96 announced M&A transactions, totaling US$10.4 billion, according to new data from Architect Partners, a M&A and strategic financing advisory firm specialized in crypto and fintech. These figures represent a staggering 3,367% year-over-year (YoY) increase in M&A value from US$0.3 billion in Q3 2024, and a 191% YoY increase in deal count from 33 deals.
Year-to-date, the sector has posted 271 transactions for the first three quarters of 2025, nearly double the 128 recorded during the same
Revolut Secures MiCA License in Cyprus for EU Crypto Operations
2025-10-24
Revolut has secured a Markets in Crypto-Assets (MiCA) license from the Cyprus Securities and Exchange Commission (CySEC), enabling it to offer regulated cryptocurrency services across all 30 countries in the European Economic Area (EEA).
Revolut, which serves more than 65 million customers worldwide, said the authorisation reaffirms its compliance-first approach to digital assets, CoinDesk reported.
The company plans to launch “Crypto 2.0,” an upgraded platform featuring over 280 tokens, zero-fee staking with rewards of up to 22% annual yield, and direct 1:1 stablecoin-to-USD conversions without spread.
Revolut’s Cyprus base will act as a hub for its EEA crypto operations as MiCA regulations take effect across the EU, reshaping how exchanges and wallet providers operate.
The move builds on
CFTC Considers Allowing MiCA-Licensed Platforms to Operate in US
2025-09-10
The US Commodity Futures Trading Commission (CFTC) may permit trading platforms licensed under Europe’s new MiCA framework to operate in American markets, Acting Chairman Caroline D. Pham told UK lawmakers.
Speaking before the All-Party Parliamentary Group on Blockchain Technologies in London, Pham said the CFTC is examining whether MiCA-authorised venues could qualify under its long-standing cross-border recognition rules.
According to Finance Magnates, Pham stated:
Caroline D. Pham
“The CFTC will also explore whether trading platforms authorised under the EU Markets in Crypto-Assets Regulation (MiCA), or similar virtual asset or crypto asset regimes, would also qualify under the CFTC’s current cross-border frameworks.”
The Acting CFTC Chair highlighted that many US crypto firms relocated
Tags: Blockchain,cryptocurrency,Featured,funding,newsletter
