The Chinese cryptocurrency platform Matrixport held a Series C funding round, which raised $ 100 million.The company’s capitalization reached $ 1 billion.
Matrixport was launched in 2019 as a subsidiary of mining equipment manufacturer Bitmain. The platform quickly gained popularity and now Matrixport has assets of $ 10 billion.
The company’s clients have access to a wide range of services, including digital asset trading, lending and fixed income products. In the spring of 2020, Matrixport launched a division in Russia.
“We are not a cryptocurrency exchange or wallet. We are a full-fledged cryptobank, ”said Matrixport CEO John Yuesheng Ge.
DST Global, C Ventures and CE Innovation Capital participated in the funding round. Also among the investors are Tiger Global, Polychain and Dragonfly.
The CEO of Matrixport said that due to the unfriendly regulatory environment in China, the company has focused on other Asian countries. This allowed us to keep the volume of assets under management.
The headquarters of the “Cryptobank” is located in Singapore. In the near future, Matrixport plans to expand its operations to Europe and North America – the company is now awaiting regulatory approval.
“We don’t want to break the laws in China, so we have shifted our efforts to other countries in the region,” Ge said.
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