Crypto Lending Platform Matrixport Seeking $100M Fundraise
As an affiliate, we may earn from qualifying purchases. We get commissions for purchases made through links on this website.
Receive $10 in Bitcoin when you buy or sell $100 or more on Coinbase! https://mathisenmarketing.com/coinbase
- Financial backers have pledged at least $50 million to the crypto lender.
- Cryptobillionaire Jihan Wu founded Matrixport Technologies.
Matrixport Technologies Pte, one of Asia’s largest crypto lenders, is seeking to raise $100 million in new capital at a valuation of $1.5 billion. Due to the FTX crash, major crypto lenders such as BlockFi and Genesis have suffered a severe shortage of available funds.
Backers have pledged at least $50 million to a Singapore-based cryptocurrency lender. The company is still targeting a $1.5 billion valuation, up 50% from last year’s $1 billion valuation, people familiar with the matter have said.
Regular cooperation with stakeholders
Realizing the deal still requires work, as the company is still looking for investors to finance the remaining 50% of the financing. The company’s public reactions Ross Gan confirmed the fundraising strategy.
“Matrixport routinely engages with key stakeholders as part of its normal business operations, including investors who wish to participate and enable our vision as a digital asset financial services provider.”
Cryptobillionaire Jihan Wu founded Matrixport Technologies. The company serves both individual clients and larger institutions with its portfolio of crypto services, which includes trading, custody and structured products. Another major player in Asia, Babel Finance, also had a liquidity problem this year when Terra’s ecosystem collapsed.
With the crypto winter of 2022 and the collapse of major companies like Terra and FTX, crypto lenders are on the brink. Lax regulatory procedures have been a major concern for the safety of investors’ crypto funds since these high-profile crypto disasters.
Recommended for you:
Will Cef’s Collapse Lead to DeFi Adaptation?