Matrixport Raises $100 Million And Reaches $1 Billion Valuation

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Crypto company Matrixport, which was originally part of crypto mining company Bitmain, has attracted $100 million in a Series C funding round.

The valuation of the company has hit $1 billion after the fundraising.

The funding round has been led by DST Global, C Ventures and K3 Ventures, however, Qiming, CE Innovation Capital, Tiger Global, Cachet Group, Palm Drive Capital, Foresight Ventures and A&T Capital have also taken part in it.

According to the company, the new capital will be used to improve the firm’s existing product line and improve experience. In addition, the company plans to expand its services to other jurisdictions after obtaining the appropriate licenses.

At the moment, the company is registered to offer its services, which include institutional grade custody services, trading, lending, structured products and asset management, in Singapore, Hong Kong and Switzerland.

Matrixport has reported that at the end of March 2021, the volume of assets under management exceeded $10 billion, wile the volume of monthly transactions exceeded $5 billion.

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