Hong Kong

Rothschild-backed RIT Leads $8.8 Million Raise by Aspen Digital

Aspen Digital, a platform that seeks to make it easy for institutions to invest and trade in crypto, has announced the raise of $8.8 million in pre-Series A funding. The round of funding was led by RIT Capital Partners, the investment trust led by Jacob Rothschild and Liberty City Ventures, and included other investors led by Cherubic Ventures, Token Bay Capital, and others as well.

The company would be using these funds to further build their platform and add more features and upgrades to the same. The platform provides a one-click solution for legacy and large investors to make their investments and trade in cryptocurrencies. This would help to save a lot of time for the large investors as they need not spend time in choosing the right exchanges, creating wallets, moving funds across exchanges, etc. All this would be managed by the platform and the traders/investors can access their funds and invest them into cryptos using a single click.

“To have the oldest wealth management family in the world putting trust in us as a platform solution for the new world of crypto investment is a great validation,” said Yang, Co-Founder, and CEO of Aspen Digital.

RIT has also been investing in other crypto businesses including in the crypto exchange Kraken and the news that some of the largest and wealthiest families in the world have been actively investing in crypto should be a big boost to the advocates of the crypto ecosystem. This shows further signs that institutions and major investors believe that crypto is here to stay despite some strong regulations from authorities around the world.

Aspen digital would target large investors and family offices for their platform which also is capable of generating reports and providing a portal that will take care of compliance procedures as demanded by various regulators. In other words, the company would be looking to provide a single-stop solution for large investors to make their investments and trades in cryptocurrencies in a safe, easy, and compliant manner.

There has been an increasing interest in cryptocurrencies over the last 1 year or so and this has been helped in no measure by the drastic increase in the prices of cryptos which has helped to pull in retail investors and traders. But the significant change that we have been seeing in the crypto ecosystem over the last few months is the entry of large institutions and firms as they realize the potential of this field as an investment asset.