Matrixport, Asia’s fast growing digital assets financial services platform closed its Series C funding round with a 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, Matrixport’s mission is to be a one-stop financial services platform. 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 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,” 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.
“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,” said Adrian Cheng, founder of C Ventures and CEO of New World Group.
“Matrixport has demonstrated tremendous thought leadership as a digital assets financial services platform by being first movers in delivering a well-curated suite of innovative crypto investment offerings. Matrixport empowers crypto natives, sophisticated institutional clients, and just as importantly the large community of first-time users who are embarking on their crypto investing journey aboard a robust and trusted platform,” said MX Kuok, Managing Partner of K3 Ventures.
“As an early investor, Dragonfly is excited to see Matrixport’s continuous growth and innovation in the emerging asset class. It is well-positioned to become one of the most critical onramps for crypto adoption,” said Feng Bo, Founding Managing Partner of Dragonfly Capital.
Matrixport is one of Asia’s fastest-growing digital asset financial services platforms. With $10 billion in assets under management and custody, it provides one-stop crypto financial services with over $5 billion in average monthly trading volumes. The offerings include Cactus CustodyTM, spot OTC, fixed income, structured products, lending as well as asset management.
Headquartered in Singapore, Matrixport’s mission is to make crypto easy for everyone and its motto is “Get More From Your Crypto”. The company holds licenses in Hong Kong and Switzerland with over 220 employees serving both institutions and retail customers across Asia and Europe.