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Matrixport has finished the Series C round of funding and has raised over $1 billion in just two years of its inception. The company is one of Asia’s fastest-growing digital assets financial services platforms, which has raised $129 million to date.
Singapore-based Matrixport has closed its Series C funding round. The company has received more than US$1 billion in just two years of its establishment. Matrixport is Asia’s fastest-growing digital assets financial services platform, with $10 billion in assets under management and custody.
The funding round was led by partners of DST Global, C Ventures and K3 Ventures along with other participants like Qiming Venture Partners, CE Innovation Capital, Tiger Global, Cachet Group, Palm Drive Capital, Foresight Ventures and AT&T Capital. The earlier investors also made their contribution. They are Lightspeed, Dragonfly Capital, CMT Digital, Polychain, and IDG Capital.
All in all, the company which was formed in 2019 has raised $129 million to date. The company has services like institutional custody, trading, landing, structured product and asset management to institutional and retail clients. Till March 2021, the company held more than $10billion of client assets under management and custody. The company has also done $5billion in monthly transactions across all product lines.
Jihan Wu, Co-founder and Chairman of Matrixport said that the open and permissionless blockchain ecosystem is very bad for the health of the exchange and people. It is a hurdle for the new financial network that will benefit a large part of the world’s population. Hence, in this new financial system, there will be hundreds of trillions of value created, stored and transferred to this new financial system.
Services by Matrixport
After the company was formed in 2019, the mission of Matrixport is to be a one-stop financial services platform. The company has robust technology and offers innovative products like the world’s first crypto dual currency product. There are other offerings too, tailored across different risk appetites and yield expectations.
With the help of this funding, Matrixport will now invest in research and development to enhance its innovative product offerings and security while optimizing for an even greater user experience. The funds received will also be used as part of the expansion plan of the company. The company is preparing for its global expansion and to secure licences to operate in more jurisdictions.
The background
Matrixport wants to make crypto easy for everyone. With this aim in mind, the roll-out will allow more users globally to embrace its cryptocurrencies financial services platform. The company gives crypto financial services with $5billion in average monthly trading volumes. The offerings include Cactus Custody, Spot OTC, fixed income, structured products, lending and asset management.
The company has licences from Hong Kong and Switzerland, with more than 220 employees serving both institutions and retail customers in Asia and Europe.