Matrixport, the cryptocurrency agency based by Bitmain co-founder Wu Jihan, is within the means of elevating $100 million funding regardless of the continued crypto market disaster.
Lead buyers have already dedicated $50 million for Matrixport’s new funding spherical at a $1.5 billion valuation, Bloomberg reported on Nov. 25. The deal has but to be finalized as Matrixport continues to be in search of buyers for the opposite half of the spherical.
We’re excited and look ahead to participating with members, on comparable phrases, within the different half of the #funding spherical.
Admire the belief and confidence our buyers proceed have in Staff #Matrixport.@enterprise https://t.co/DqQhsYucUy
— Matrixport (@realMatrixport) November 25, 2022
In keeping with the corporate, the brand new spherical is a part of Matrixport’s common funding agenda. “Matrixport routinely engages with key stakeholders as a part of its regular course of enterprise, together with buyers eager to take part and allow our imaginative and prescient as a digital property monetary providers supplier,” the agency’s public relations head Ross Gan mentioned.
Matrixport’s new funding comes a yr after the agency performed a $100 million Collection C funding spherical performed in August 2021, changing into a unicorn with a $1 billion valuation.
The fundraise was led by main international enterprise capital corporations, together with DST World, C Ventures and K3 Ventures. Different contributors within the spherical included main trade buyers like Tiger World, Qiming Enterprise Companions, CE Innovation Capital, A&T Capital, alongside present buyers like Polychain, Dragonfly Capital, Lightspeed, IDG Capital and others.
In keeping with Bloomberg knowledge, Matrixport handles $5 billion of trades every month and has tens of billions of {dollars} of property underneath administration and custody. The agency reportedly employs near 300 individuals.
Established in February 2019, Matrixport is among the largest cryptocurrency lenders in Asia, providing a variety of crypto providers, together with buying and selling and custody. The corporate additionally presents cryptocurrency and stablecoin loans, in addition to zero-cost loans with a 0% rate of interest and liquidation safety.
Matrixport is considered one of few crypto lending platforms that seem to haven’t been affected by the continued disaster of cryptocurrency lending. As beforehand reported by Cointelegraph, a number of the largest crypto lending platforms together with Celsius and BlockFi have confronted main points this yr because of the ongoing bear market and the related disaster of cryptocurrency lending.
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Wu’s crypto firm additionally mentioned that it wasn’t an excessive amount of affected by the ongoing FTX contagion, reporting just a few points because of the crash of Sam Bankman-Fried’s crypto change. On Nov. 11, Matrixport reported that 79 of its customers suffered losses within the aftermath of FTX points, including that the affected merchandise included the BTC Mounted Earnings Merchandise and Victoria BTC Fund Merchandise.
“We would wish to emphasise that Matrixport’s merchandise are topic to strict segregation from each other so {that a} single impacted product won’t have an effect on the opposite merchandise because the underlying asset and fund move are segregated,” the agency said.
