Cryptocurrency financial services platform Matrixport has completed a $100 million financing and plans to go public within 3-5 years
Another unicorn company in the cryptocurrency market.Author: Hu Tao
Today, the crypto financial services platform Matrixport announced the completion of its Series C financing round with a pre-money valuation of $1 billion, raising over $100 million. Investors include well-known institutions such as DST Global, Tiger Global, Polychain, Qiming Venture Partners, IDG Capital, and Dragonfly Capital, making the company another unicorn in the crypto market.
Matrixport stated that the funds from this round will be used to enhance product innovation and security, optimize user experience, and expand globally to obtain operational licenses in more jurisdictions.
It is reported that Matrixport is a digital asset financial services platform that was spun off from Bitmain in 2019. Co-founders include former Bitmain CEO Wu Jihan and former Senior Investment Director Ge Yuesheng, with headquarters in Singapore.
The company initially focused on providing lending services to crypto miners, but has now developed a range of solutions tailored to clients with different risk appetites and return expectations, covering spot OTC, lending, custody, fixed income, and structured products. Matrixport stated that its custody products have obtained a Hong Kong Trust TCSP license and are regulated by Swiss FINMA compliance.
As of March 2021, the company managed and custodied client assets exceeding $10 billion, with a monthly trading volume of $5 billion across all product lines. Ge Yuesheng stated that the plan is to increase the assets managed and custodied by Matrixport to hundreds of billions of dollars within five years.
"Matrixport is a place where both institutional clients and individuals can easily earn more from their cryptocurrencies, and we will continue to launch more new ways to invest in cryptocurrencies and earn returns in a safe and sustainable manner," Ge Yuesheng said in an interview with Bloomberg.
Matrixport also stated that the company will continue to pursue the next round of financing and plans to go public within 3-5 years.
