Matrixport Valued at over $1 Billion At End of Series C

Matrixport, one of the fastest-growing digital assets firms in Asia, has announced the closing of its Series C funding round which has helped it to gain a valuation of over $1 billion within 2 years of its launch.

The latest round of funding was led by DST Global, C Ventures and included other investors like Qiming Venture Partners, Tiger Global, and others. The details of how much was raised in this round were not revealed but the company has raised $129 million so far. The company aspires to give an end to end services as far as digital assets are concerned which includes crypto custody, trading, lending, etc and the company reports that it holds over $10 billion worth of assets and $5 billion in transaction volumes.

“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.

The company has said that it would use the new funds to continue its growth and expansion and also build on the features set of its platform along with the security which would be the key for the digital asset world at any point in time. The company has an extensive range of services and products depending on the risk appetite of the clients and so it is likely to continue to build on these products as more and more clients begin to onboard on to the platform.

“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 in crypto and earn yields safely and sustainably. 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.

Matrixport had recently partnered with the fintech giant Circle for transfers with USDC settlement which would enable it to handle international transfers and payments in a very quick manner with settlement being in USDC. It has thrown its weight fully behind crypto and has been extending its services into the payments space as well which is expected to help boost its revenue.