Matrixport, the digital currency financial services company co-founded by former Bitmain CEO Jihan Wu, announced that it has raised $ 100 million in a Series C financing round. Funding has raised Matrixport’s valuation to unicorn status as the company now has a valuation of over $ 1 billion.
Matrixport is now valued at $ 1 billion and is raising $ 100 million in Series C.
On Sunday, Matrixport, a financial services company specializing in cryptocurrency solutions, management and custody services, announced that it has raised $ 100 million from a number of strategic investors. The $ 100 million Series C funding round was led by DST Global, C Ventures and K3 Ventures.
Other investors are A&T Capital, Foresight Ventures, Lightspeed, Polychain, Dragonfly Capital, CMT Digital and IDG Capital. The Singapore-based start-up Matrixport intends to use the financing to further advance the company’s expansion.
Matrixport says the startup has raised a total of $ 129 million to date and the latest funding has turned the company into a crypto unicorn. According to the company, Matrixport manages $ 10 billion in assets under management (AUM) and the startup’s services deal with a worldwide trading volume of $ 5 billion per month.
“I always believe that an open and permissionless blockchain ecosystem is the foundation of a new financial network that will benefit a large part of the world’s population,” the company’s co-founder Jihan Wu said in a statement. Wu from Matrixport added:
As a result, hundreds of trillions of value are being created, stored and transmitted over this new financial network.
Funding for global expansion and securing licenses to operate in more jurisdictions
In addition to global expansion, the funding will be used for research and development (R&D), product offerings, security enhancements, and user experience optimization. “The funds will also be used to support its global expansion and to secure licenses for operation in other jurisdictions,” emphasizes Matrixport.
Adrian Cheng, the founder of C Ventures and CEO of the New World Group, believes Matrixport will drive the wider adoption of blockchain technology and cryptocurrency solutions.
“As blockchain-based digital assets gain wider adoption and adoption, new ways are needed to generate income, raise liquidity, and manage crypto assets as an emerging asset class,” said Cheng. With an in-depth knowledge of traditional finance and a keen understanding of crypto assets, Matrixport is well positioned to meet the growing demand for this new area of investment, which is primarily being driven by the younger generations, ”concluded the New World Group CEO.
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