On August 2, Cachet Group’s strategic partner Matrixport announced that it raised USD 100 million in its Series C funding round.
This round was led by DST Global, C Ventures, K3 Ventures, with participation from Cachet. The Singapore-based crypto financial services platform now has a valuation of more than USD 1 billion.
Founded in 2019, Matrixport is Asia’s fast-growing digital asset platform that offers financial services from custody to trading and structured products. To date, the company has USD 10 billion assets under management and custody and USD 5 billion in average monthly trading volume.
Matrixport's mission is to be a one-stop financial services platform. Its exponential growth has been driven by robust technology capabilities and innovative product offerings, such as the world's first crypto dual currency product. The company provides a comprehensive suite of offerings tailored across different risk appetites and yield expectations.
The latest funding round will allow the company to further invest in product development and research while offering a better user experience. The funds will also be used to support the company’s global expansion and obtain licenses in new jurisdictions.