Singapore crypto firm Matrixport closes fund raise, bringing valuation above US$1bn

August 2, 2021

Matrixport, Asia’s fast growing digital assets financial services platform announced that it has closed its Series C funding round, bringing the valuation of over US$1 billion — just two years after its establishment.

This round was led by partners of DST Global, C Ventures and K3 Ventures with other participants including Qiming Venture Partners, CE Innovation Capital, Tiger Global, Cachet Group, Palm Drive Capital, Foresight Ventures and A&T Capital, along with earlier investors Lightspeed, Polychain, Dragonfly Capital, CMT Digital and IDG Capital. The Singapore-based start-up has raised $129 million to date.

Matrixport offers a full suite of cryptocurrency financial services including institutional custody, trading, lending, structured products and asset management to institutional and retail clients. As of March 2021, the company held over $10 billion of client assets under management and custody, and recorded $5 billion in monthly transactions across all product lines.

“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. As a result, there will be hundreds of trillions of value created, stored and transferred on this new financial network,” said Jihan Wu, Co-Founder & Chairman of Matrixport.

Since its inception in 2019, its exponential growth has been driven by robust technology capabilities and innovative product offerings, such as the world’s first crypto dual currency product. The company provides a comprehensive suite of offerings tailored across different risk appetites and yield expectations.

“We are continually pushing out more new ways to invest crypto and earn yields in a safe and sustainable manner. We believe that it is very important to give the choice back to our customers with a range of innovative crypto investment products,” said John Ge, Co-Founder & Chief Executive Officer, Matrixport.

With this funding, Matrixport plans to further invest in research and development to enhance its innovative product offerings and security while optimising for an even greater user experience. The funds will also be used to support its global expansion as well as to secure licenses to operate in more jurisdictions. With the company’s vision to “Make Crypto Easy For Everyone”, the roll-out will allow more users globally to embrace its cryptocurrency financial services platform.

Image credit: PxHere

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