Leading cryptocurrency exchange ShapeShift has raised $10.4 million in a series A funding round led by Berlin-based Earlybird Venture Capital, CoinDesk reported.

The funding round also included participation from Lakestar, Blockchain Capital, Pantera Capital and Access Venture Partners. Existing investors including FundersClub, Digital Currency Group and ShapeShift CEO Erik Voorhees also participated in the round.

The startup plans to release two-exchange related products later this year. It intends to use the amount raised to expand its engineering team.

Voorhees told CoinDesk that many of the fresh hires would be done on the engineering side to prepare for those launches and an expected rise in volume.

ShapeShift platform has grown on an average of 48% in the last three years, with an average monthly trade volume of about 50,000 bitcoins spread across 40 cryptocurrencies and assets, the startup said. While the company did not reveal much about the upcoming products, Voorhees indicated that both were new types of exchange, with one built completely around smart contracts.

“When we started ShapeShift, a future world of natively digital assets was very theoretical,” said Voorhees, in a statement issued to VentureBeat. “Yet this world is quickly arriving; one in which millions of forms of digital value, from access keys to tokenized derivative contracts to video game items, will trade between people and machines all over the world, every second of every day. Just as information has gone natively digital, so too now goes value. Bitcoin taught a skeptical world how to do it, and the gold rush is on.”