Matrixport, which claims to be one of Asia’s fastest-growing digital assets financial services platforms, has finalized its Series C funding round with a valuation of more than $1 billion — just two years after it launched.
Matrixport‘s investment round has been led by partners of DST Global, C Ventures and K3 Ventures along with contributions from Qiming Venture Partners, CE Innovation Capital, Tiger Global, Cachet Group, Palm Drive Capital, Foresight Ventures and A&T Capital.
Existing investors Lightspeed, Polychain, Dragonfly Capital, CMT Digital and IDG Capital also took part in Matrixport’s round. The Singapore-based startup confirmed that it has secured $129 million in capital, to date.
Matrixport provides a complete suite of cryptocurrency-focused financial services such as institutional custody, trading, lending, structured products and asset management to institutional and retail clients.
As of March 2021, the firm was holding more than $10 billion of client assets under management and custody, and recorded $5 billion “in monthly transactions across all product lines.”
Jihan Wu, Co-Founder & Chairman of Matrixport, stated:
“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.”
Since launching operations in 2019, Matrixport’s mission is “to be a one-stop financial services platform.”
The company’s steady growth has been driven by its robust technology capabilities and innovative product offerings, such as “the world’s first crypto dual currency product,” according to a release shared with CI. The company provides “a comprehensive suite of offerings tailored across different risk appetites and yield expectations.”
John Ge, Co-Founder & CEO at Matrixport, remarked:
“We are more than a gateway to the crypto economy. Matrixport is where both institutional customers and individuals find it easy to get more from their crypto, beyond just trading. 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,”
With this new round of funding, Matrixport says that it will be investing in research and development R&D efforts in order “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,” the release stated while noting that with the company’s vision to “Make Crypto Easy For Everyone”, the roll-out should “allow more users globally to embrace its cryptocurrency financial services platform.”
Adrian Cheng, founder of C Ventures and CEO of New World Group, remarked:
“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. 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.”
MX Kuok, Managing Partner at K3 Ventures, noted that Matrixport has shown great thought leadership as a digital assets financial services platform by being “first movers” in offering a curated suite of “innovative” crypto investment offerings.
Feng Bo, Founding Managing Partner of Dragonfly Capital said that as an early investor, Dragonfly is pleased to see Matrixport’s steady growth and innovation in the nascent digital asset space.