Jihan Wu’s Matrixport Raises $ 100M Singapore Startup Joins Escalating List of Crypto Unicorns – Bitcoin News


Matrixport, the digital currency money services enterprise co-started by previous Bitmain CEO Jihan Wu, introduced that it has elevated $ 100 million in a Sequence C funding spherical. Funding has lifted Matrixport’s valuation to unicorn standing as the enterprise now has a valuation of above $ 1 billion.

Matrixport is now valued at $ 1 billion and is boosting $ 100 million in Series C.

On Sunday, Matrixport, a monetary products and services organization specializing in cryptocurrency solutions, administration and custody solutions, introduced that it has raised $ 100 million from a variety of strategic buyers. The $ 100 million Sequence C funding round was led by DST World-wide, C Ventures and K3 Ventures.

Other buyers are A&T Capital, Foresight Ventures, Lightspeed, Polychain, Dragonfly Money, CMT Digital and IDG Capital. The Singapore-centered start-up Matrixport intends to use the funding to advance the company’s enlargement.

Matrixport says the startup has raised a full of $ 129 million to date and the most recent funding has turned the firm into a crypto unicorn. In accordance to the company, Matrixport manages $ 10 billion in property underneath management (AUM) and the startup’s expert services deal with a around the globe buying and selling volume of $ 5 billion for every thirty day period.

“I always imagine that an open up and permissionless blockchain ecosystem is the foundation of a new monetary community that will profit a massive part of the world’s populace,” the company’s co-founder Jihan Wu said in a assertion. Wu from Matrixport included:

As a outcome, hundreds of trillions of value are remaining produced, saved and transmitted in excess of this new money network.

Funding for global expansion and securing licenses to work in much more jurisdictions

In addition to international expansion, the funding will be utilized for study and development (R&D), item offerings, protection enhancements, and user knowledge optimization. “The money will also be applied to guidance its world enlargement and to safe licenses to run in much more jurisdictions,” emphasizes Matrixport.

Adrian Cheng, the founder of C Ventures and CEO of the New Earth Group, thinks Matrixport will travel the broader adoption of blockchain technological know-how and cryptocurrency remedies.

“As blockchain-based mostly electronic property obtain wider adoption and adoption, new means are wanted to make returns, increase liquidity and regulate crypto belongings as an emerging asset class,” mentioned Cheng. With in-depth expertise of classic finance and a eager understanding of crypto belongings, Matrixport is effectively positioned to fulfill the escalating demand for this new spot of ​​investment, which is predominantly driven by the youthful generations, ”concluded the New World Team CEO.

What do you feel of Matrixport increasing $ 100 million from strategic traders? Let us know what you consider on this make any difference in the opinions beneath.

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Jihan Wu's Matrixport Raises $ 100M Singapore Startup Joins Escalating List of Crypto Unicorns - Bitcoin News

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