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Matrixport, with its knowledge of both traditional finance and modern crypto, is best suited to provide solutions to the emerging challenges of this novel crypto asset class.
Singapore-based digital asset financial services venture Matrixport closed its latest Series C funding round raising over $100 million elevating its pre-money valuation to over $1 billion in just a couple of months. It is now officially a Unicorn and has raised a total of $129 million to date since its inception.
Its fast-growing success can be attributed to its fierce and exceptional technological competency through which it has been offering unique products to its customers. Matrixport’s suite of offerings is tailor-made for a wide variety of investors and traders both institutional as well as retail. No matter what your risk appetite is or what yields you expect to earn, Matrixport will provide the best at hand making sure you get more from your crypto. All their product offerings thus make their mission possible – Get More From Your Crypto.
Key Features of the Series C Funding by Matrixport
As said earlier, the company raised over $100 million in an impressive Series C funding round thus turning the start-up into a unicorn at such an early stage. While DST Global, K3 Ventures and C Ventures became the leading investors of this round, the start up’s early investors namely Lightspeed, Dragonfly Capital, Polychain, IDG Capital and CMT Digital also participated. The others included Qiming Venture Partners, Tiger Global, CE Innovation Capital, Palm Drive Capital, A&T Capital, Cachet Group, Foresight Ventures.
The new funds will be put to use in enabling sophisticated research and development that in turn will improve their offerings and enhance customer experience on the platform. The new employees will range from those having industry capabilities across world-class banks and internet giants to those with niche expertise in blockchain technology firms. Currently, the company has its user base in over 40 countries which it plans to expand through securing licenses for operations in additional jurisdictions, thus consolidating its global expansion goal.
About the Company
Matrixport was founded in 2019 by Jihan Wu and John Ge, both earlier associated with the world’s largest Bitcoin mining rigs maker Bitmain. The platform offers a full collection of services like dual currency BTC/USDC linked product (DCP), spot OTC, fixed income, Cactus CustodyTM, structured products and asset management for both institutions and retail customers. As per its website, the company holds currently over $10 billion in assets and has $5 billion worth of monthly transactions across all products.
The company’s goal is to be the one-stop financial services platform that will give crypto users multiple products to invest their digital assets and sustainably earn profits. Already being recognised as a thought leader in the crypto-based financial services industry, Matrixport enhances the experience of all three crypto customer communities namely the crypto natives, the emerging first-time crypto users largely consisting of the younger generation and the sophisticated institutional customers.
According to a statement released by Ge to Bloomberg, the company plans to go public in three to five years and thus provide investors with an exit route. Though its profit numbers have not been released, Ge also confirmed Matrixport’s ambition to have hundreds of billions of dollars in assets under management and custody within the same time frame.