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Bitmain Spin-Off Matrixport Gets $100M in Series C Funding, Valuation Over $1B
Funding will go toward furthering research for its product offerings while enhancing the platform's user experience.
Matrixport, a crypto services provider, has closed a $100 million Series C funding round with a valuation of over $1 billion.
STORY CONTINUES BELOW
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- The round was led by partners of DST Global, C Ventures and K3 Ventures, according to a press release on Monday.
- Qiming Venture Partners, CE Innovation Capital, Tiger Global, Cachet Group, Palm Drive Capital, Foresight Ventures and A&T Capital also participated.
- Funding will go toward furthering research and development for its product offerings and security while enhancing the platform's user experience, the firm said.
- To date, the Singapore-based start-up has raised $129 million.
- As of March 2021, the company said it holds over $10 billion in assets under management and has recorded $5 billion in monthly transactions across all products.
Read more: Gemini Exchange to Expand Asia-Pacific Operations in a Bid to Capture Growth
Sebastian Sinclair
Sebastian Sinclair is the market and news reporter for CoinDesk operating in the South East Asia timezone. He has experience trading in the cryptocurrency markets, providing technical analysis and covering news developments affecting the movements on bitcoin and the industry as a whole. He currently holds no cryptocurrencies.
