Matrixport, a crypto asset management firm, is targeting $100 million in funding from investors, according to a Bloomberg report. Some private investors have pledged $50 million toward the financing, but it has yet to be finalized.
Matrixport will use the investment for internal development and research to provide better services to its customers.
According to Ross Gan, head of public relations,
“Matrixport routinely engages with key stakeholders as part of its normal course of business, including investors keen to participate and enable our vision as a digital asset financial services provider.”
Matrixport is a digital asset and crypto financial services company founded in 2019 by Jihan Wu and Ge Yuesheng. The company offers crypto investment services to beginners and experienced traders.
In just two years, it has grown to be one of the biggest cryptocurrency firms in Asia. According to its website, the company currently has over $10 million in assets and monthly revenue of $5 billion from trading and other services.
The company is one of the few exchanges unaffected by the FTX liquidity crisis. Some exchanges affected by the shocking FTX fallout include Genesis, Gemini, and BlockFi.
According to the letter by Matrixport, the BTC fixed income product, and Victoria BTC fund product were the only ones affected by the FTX crisis, and only 79 users incurred losses. The company assured its users that the product involved doesn’t have the same impact on other products.
According to the firm:
“We need to emphasize that Matrixport’s products are subject to strict segregation from one another so that a single impacted product will not affect other products as the underlying assets and fund flow are segregated.”
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