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Matrixport Looking To Raise $100 Million At $1.5 Billion Valuation

Foxy - Coincu
2022-11-25 04:47
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Matrixport, a crypto asset management firm founded by former Bitmain co-founder Jihan Wu, is seeking $100 million in funding at a $1.5 billion valuation.
Matrixport Technologies Pte, one of Asia’s largest crypto lenders, is targeting $100 million funding at a higher valuation, even as the fall of FTX reverberates in financial markets digital product.
The Singapore company has a pledge from top investors for $50 million at a $1.5 billion valuation in the round, up from $1 billion a year earlier, according to people familiar with the matter.
These people said the deal has not been finalized and the company is still looking for investors for the second half of the round. It was not immediately clear who the main investors of this round were.
Matrixport’s services include custody, trading, lending and structured products. Jihan Wu says it is the first to offer crypto dual currency products, which are investments that provide guaranteed returns with payouts paid in either cryptocurrencies. available depending on the market price at that time.
Matrixport says it currently has $10 billion in assets under management and custody. In addition, it processes $5 billion in transactions per month, has tens of billions of dollars in assets under management and custody, and has nearly 300 employees, according to disclosed investor filings.
Prior to the news last August, Matrixport completed a $100 million C funding round.
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