Blockchain technology company ConsenSys intends to increase headcount in Dublin after raising $65 million (€54.3 million) from backers that include JP Morgan, UBS Group and Mastercard.
Founded in 2014 by Joe Lubin, one of the co-founders of Ethereum, ConsenSys has had a presence locally since 2018.
Ethereum is a community-run technology powering ether (ETH), the world’s most popular cryptocurrency after bitcoin, as well as thousands of decentralised applications.
ConsenSys said it currently has 50 roles open across the group with plans for a further 50 later this year. Most of these roles will be open to people who to work in Dublin.
The company underwent a major restructuring last year to separate its core software business from its investment activities arm. It also acquired JPMorgan's marquee blockchain unit, Quorum, with the bank making a strategic investment in ConsenSys as part of the deal.
ConsenSys said it intends to use the new financing to accelerate the convergence of decentralised finance (DeFi) and Web3 applications on Ethereum with enterprise blockchain infrastructure.
Other investors who participated in the latest funding round included blockchain companies Protocol Labs, the Maker Foundation, Fenbushi and The LAO.
“We are proud to partner with preeminent financial firms alongside leading crypto companies to further converge the centralised and decentralised financial domains at this particularly exciting time of growth for ConsenSys and the entire industry,” said Mr Lubin.
In addition to its local operation, W3BCloud, a joint venture between ConsenSys and chip maker AMD, is headquartered in Dublin.
W3BCloud, which raised $20.5 million last year at launch, is focused on rolling out a network of decentralised data centres globally.