Jihan Wu’s Matrixport Raises $100 Million — Singapore Startup Joins Growing List of Crypto Unicorns

business partners handshake international business concept scaled

Matrixport, the digital currency financial services company co-founded by the former Bitmain CEO Jihan Wu, has revealed the company has raised $100 million in a Series C financing round. The funding has propelled Matrixport’s valuation to unicorn status as the firm now has a valuation of over $1 billion.

Matrixport Now Valued at $1 Billion, Company Raises $100 Million in Series C

On Sunday, the company Matrixport, a financial services firm that specializes in cryptocurrency solutions, management, and custodial services, revealed the company has raised $100 million from a slew of strategic investors. The $100 million Series C funding round was led by DST Global, C Ventures, and K3 Ventures.

Additionally, other investors include A&T Capital, Foresight Ventures, Lightspeed, Polychain, Dragonfly Capital, CMT Digital, and IDG Capital. The Singapore-based start-up Matrixport plans to use the financing to continue bolstering the company’s expansion.

Matrixport details that to date, the startup has raised a total of $129 million and the latest financing has transformed the firm into a crypto unicorn. According to the company, Matrixport has $10 billion in assets under management (AUM) and the startup’s services deal with $5 billion per month in global trade volume.

“I always believe an open and permissionless blockchain ecosystem is the bedrock of a new financial network that will benefit a large part of the world’s population,” the company’s co-founder Jihan Wu said in a statement. Matrixport’s Wu continued by adding:

As a result, there will be hundreds of trillions of value created, stored, and transferred on this new financial network.

Financing to Be Used for Global Expansion, Securing Licenses to Operate in More Jurisdictions

In addition to global expansion, the financing will be leveraged for research and development (R&D), product offerings, security enhancements, and optimizing the user experience. “The funds will also be used to support its global expansion as well as to secure licenses to operate in more jurisdictions,” Matrixport emphasizes.

Adrian Cheng, the founder of C Ventures and CEO of New World Group, believes Matrixport will bolster the wider adoption of blockchain technology and cryptocurrency solutions.

“As blockchain-based digital assets gain wider adoption and acceptance, new pathways are needed to capture yield, source liquidity, and manage crypto assets as an emerging asset class,” Cheng said. With deep knowledge of traditional finance and a keen understanding of crypto assets, Matrixport is well positioned to answer the increasing demand for this new area of investment, driven primarily by the younger generations,” the New World Group CEO concluded.

What do you think about Matrixport raising $100 million from strategic investors? Let us know what you think about this subject in the comments section below.

Ronnie Huss

Ronnie Huss

Leave a Reply

Your email address will not be published. Required fields are marked *

Share:

Share on telegram
Share on facebook
Share on twitter
Share on linkedin
Share on whatsapp

Related Posts

bitcoin
Bitcoin (BTC) $ 65,175.46
ethereum
Ethereum (ETH) $ 3,181.56
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 576.53
solana
Solana (SOL) $ 151.01
usd-coin
USDC (USDC) $ 1.00
staked-ether
Lido Staked Ether (STETH) $ 3,180.46
xrp
XRP (XRP) $ 0.528963
dogecoin
Dogecoin (DOGE) $ 0.163892
the-open-network
Toncoin (TON) $ 6.20
cardano
Cardano (ADA) $ 0.507960
shiba-inu
Shiba Inu (SHIB) $ 0.000028
avalanche-2
Avalanche (AVAX) $ 38.18
bitcoin-cash
Bitcoin Cash (BCH) $ 515.03
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 65,245.48
polkadot
Polkadot (DOT) $ 7.21
tron
TRON (TRX) $ 0.111136
chainlink
Chainlink (LINK) $ 14.95
internet-computer
Internet Computer (ICP) $ 15.48
matic-network
Polygon (MATIC) $ 0.736935
near
NEAR Protocol (NEAR) $ 6.33
litecoin
Litecoin (LTC) $ 85.41
uniswap
Uniswap (UNI) $ 7.87
leo-token
LEO Token (LEO) $ 5.75
dai
Dai (DAI) $ 1.00
aptos
Aptos (APT) $ 10.14
ethereum-classic
Ethereum Classic (ETC) $ 28.19
blockstack
Stacks (STX) $ 2.78
mantle
Mantle (MNT) $ 1.22
filecoin
Filecoin (FIL) $ 6.71
first-digital-usd
First Digital USD (FDUSD) $ 1.00
crypto-com-chain
Cronos (CRO) $ 0.131211
render-token
Render (RNDR) $ 9.10
cosmos
Cosmos Hub (ATOM) $ 8.67
stellar
Stellar (XLM) $ 0.115983
okb
OKB (OKB) $ 55.86
arbitrum
Arbitrum (ARB) $ 1.22
hedera-hashgraph
Hedera (HBAR) $ 0.089637
immutable-x
Immutable (IMX) $ 2.20
renzo-restaked-eth
Renzo Restaked ETH (EZETH) $ 3,209.14
bittensor
Bittensor (TAO) $ 481.66
dogwifcoin
dogwifhat (WIF) $ 3.12
vechain
VeChain (VET) $ 0.042349
maker
Maker (MKR) $ 3,139.02
kaspa
Kaspa (KAS) $ 0.120361
the-graph
The Graph (GRT) $ 0.289030
injective-protocol
Injective (INJ) $ 29.50
optimism
Optimism (OP) $ 2.51
fetch-ai
Fetch.ai (FET) $ 2.48
pepe
Pepe (PEPE) $ 0.000006