Matrixport Seeks $100M Funding Despite the Dwindling Crypto Economy

Matrixport, a digital asset investment company with over 220 employees serving both institutions and retail customers in Asia and Europe stated that it is aiming to get $100 million in funding at a higher valuation despite the crisis being experienced in the blockchain industry due to the abrupt collapse of the defunct FTX exchange.

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The news was reported via a Bloomberg post, and according to the report, Matrixport has already gotten $50 million in funding commitments from lead investors that were not disclosed at a previous valuation round for $1.5 billion. Matrixport is however seeking funds for the remaining half as the deal from led investors is yet to be finalized.

Ross Gan, Head of Public Relations at Matrixport confirmed the news by stating that “the firm usually communicates with industry stakeholders on a regular basis as part of its business procedure including investors eager to become involved and support the firm’s vision as a provider of financial services for digital assets.”

Matrixport offers a comprehensive financial digital assets platform to its users so they can perform trading, invest, and leverage crypto assets. The firm also offers traditional loans with zero cost with liquidity protection to institutions so they use it for investments.

Matrixport claims to have $10 billion in assets that are under custody and management and possess over $5 billion in average monthly trade volumes.

The Digital Ecosystem is Moving Forward

The current cryptocurrency market’s declining position does not appear to have slowed the development of the blockchain sector as some stakeholders and investors continue to engage in the ecosystem.

A recent report revealed that Man Group Plc, an investment management company is preparing to launch a crypto hedge fund. The report stated that the project is expected to commence before the end of the year.

The cryptocurrency hedge fund will be led by portfolio manager Andre Rzym, who has been with Man AHL since 2005. Rzym, who previously worked at JPMorgan, has been working strategically with Man Group to make the vision a reality. Rzym worked at JPMorgan, where he traded emerging-market interest rate and credit default swaps.

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