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Bitmain Cofounder-Backed Platform Reveals Its Fundraising Plans

Bitmain prime supporter-backed cryptocurrency trading platform, Matrixport, has reported another financing round planning to raise as much as $140 million at a post-venture valuation of $300 million.

Singapore-based Matrixport uncovered its raising money plans to financial specialists lately, as indicated by individuals acquainted with the issue, BNN Bloomberg wrote about March 4. Last year, Matrixport’s overall revenue purportedly represented $7 million to $8 million, with the organization hoping to twofold its profit this year.

Matrixport, in the past funding round, was reportedly esteemed at $114 million.

Supported by Wu Jihan

Matrixport was launched by the previous CEO of one of the largest BTC mining pools Bitmain, Wu Jihan, last July. At first, the platform offered over-the-counter trading, loaning and custody. At that point, Wu Jihan said that Matrixport would utilize its Bitmain’s associations and expertise to address the issues of Chinese digital currency miners.

Matrixport, in this way, revealed designs to enter the European market by opening new office in Zurich, Switzerland. The Matrixport CEO, Hui Wang, said then that Matrixport’s new office in Switzerland’s Zurich wouldn’t act to just allude customer to Asia. Rather it would offer full assistance to European customers.

Latest Investments in the Cryptosphere

The cryptocurrency space has seen various investments as of late. In February, London-based virtual asset startups Copper pulled in $8 million of every a Series A funding round, with the cooperation of investment firms, for example, MMC Ventures and LocalGlobe.

Constancy International bought 17 million offers for 5.6% possession position in BC Group, the administrator of OSL, one of Asia’s biggest virtual asset platforms for establishments. In that capacity, Fidelity gained a stake in the company for over $14 million.

In late January, cross-outskirt installments platform Currencycloud brought $80 million up in funding from SBI Group, International Finance Corporation, Visa, BNP Paribas and Siam Commercial Bank.