(Bloomberg) -- QuickNode is the latest Miami-based crypto startup to attract attention from major venture capital investors.

The group -- which provides blockchain infrastructure solutions to companies including PayPal Holdings Inc. and Coinbase Global Inc. -- has raised $35 million in a Series A funding round led by Tiger Global Management.

The company had already raised about $10 million in seed funding from investors including SoftBank Group Corp., and it plans to use the new funds to hire as many as 50 people after a 20-fold increase in revenue this year. QuickNode serves non-blockchain native companies, providing them the ability to read and write to blockchains including for non-fungible tokens.

“Every social media asset wants to do NFT stuff,” Co-Founder Auston Bunsen said in an interview. “We want to be a provider for them. Every large bank that is thinking about adopting crypto into their product set, we want to support them.”

Miami has seen a flurry of crypto activity over the past year, with exchange platforms EToro and Blockchain.com Inc. both recently announcing new offices in the city. Miami Mayor Francis Suarez, meanwhile, has said he wants to turn Miami into the crypto capital of the U.S. and is working on a proposal for it to be able to pay government employees in Bitcoin.

Tiger Global, which attracted $8.8 billion in the close of the biggest venture fund on record, contributed $30 million in the QuickNode round with additional investors including Alexis Ohanian’s Seven Seven Six, Soma Capital, Arrington XRP Capital, Crossbeam and Anthony Pompliano. 

Bunsen, a long time Miami resident, said that the crypto ecosystem in the city was reaching a crescendo.

“There’s more than just Scott Shleifer in Palm Beach,” Bunsen said, referring to the Tiger Global executive who has joined a rising number of East Coast hedge funders buying property in South Florida. “There’s also John Curtius from Tiger in Coral Gables. He’s regularly visiting founders here in Miami. There’s also Soma Capital. They have a team down here, and they’re scouting deals all the time.”

While QuickNode is “remote first,” he said the company would prefer to hire local Miami candidates because of the emerging crypto scene in the city. He also declined to comment on the exact valuation of his company, but said they were “happy with it.”

“There are so many crypto founders living here in Miami now. In my building alone, I can think of multiple founders,” Bunsen said. “There’s a lot of community here for people that are building in blockchain and crypto. It’s sort of magnificent.”

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