Singapore-based crypto lender Matrixport hopes to raise US$100 million at a valuation of US$1.5 billion, according to a Bloomberg report citing unnamed sources.
See related article: Singapore’s central bank says not possible to protect local users from FTX fallout
- Matrixport has “commitments from lead investors for US$50 million” and is still looking for investors for the remaining amount, the Bloomberg report said.
- In August last year, the company completed a series-C funding round, bringing the company’s valuation to more than US$1 billion.
- Matrixport handles US$5 billion of monthly trading volume, and holds over US$700 million of outstanding loans and US$10 billion in assets under management and custody, according to its website.
- Matrixport’s fundraising plans come at a time when the industry is managing shockwaves from the bankruptcy of crypto exchange FTX, with crypto prices falling as investors worry about more potential fallout across companies linked to the exchange.
- See related article: South Korea, Singapore, Japan biggest users of FTX pre-collapse, says CoinGecko