Singapore crypto firm Matrixport banks $100m to reach unicorn status

“Matrixport, the crypto finance venture led by Bitmain’s billionaire founder Wu Jihan, has raised fresh capital from investors including DST Global and Tiger Global, ramping up its pre-money valuation to US$1 billion in two years since its inception,” Bloomberg reported.

Details:

• The Singapore-based startup raised US$100 million in the series C round led by by DST Global, C Ventures, and K3 Ventures. The round will also have a second tranche, said Matrixport’s CEO, Ge Yuesheng.
• According to Ge, Matrixport is currently profitable, though he did not disclose any financial details.

Dive deeper:

• As of March, the crypto trading firm said it has held over US$10 billion of client assets under management and custody.
• The fundraise comes less than a month after Matrixport introduced a new “Lite” version on its app, aiming to onboard users that are new to crypto investments.