Bitmain cofounder-backed crypto trading platform Matrixport has announced a new funding round aiming to raise as much as $140 one thousand thousand at a postal service-investment valuation of $300 one thousand thousand.

Singapore-based Matrixport revealed its fundraising plans to investors in recent weeks, co-ordinate to people familiar with the issue, BNN Bloomberg reported on March iv. In 2022, Matrixport's revenue reportedly accounted for $vii 1000000 to $8 million, with the company expecting to double its earnings this year.

In the previous funding round, Matrixport was reportedly valued at $114 million.

Backed past Wu Jihan

Matrixport was launched by Wu Jihan, the old CEO of one of the largest Bitcoin (BTC) mining pools Bitmain, final July. Initially, the platform offered over-the-counter trading, lending and custody. At the time, Jihan said that Matrixport would utilise its Bitmain'southward connections and expertise to run across the needs of Chinese cryptocurrency miners.

Subsequently, Matrixport revealed plans to enter the European market by opening new office in Zurich, Switzerland. Hui Wang, the CEO of Matrixport in Switzerland, said then that Matrixport's new role in Zurich would non act to simply refer clients to Asia, just would also provide full service to European clients.

Recent investments in the crypto world

The crypto infinite has seen a number of investments in recent months. In February,  London-based digital asset startup Copper attracted $8 meg in a Series A funding round, with the participation of investment firms such as MMC Ventures and LocalGlobe.

Allegiance International purchased 17 million shares for a 5.6% ownership position in BC Group, the operator of OSL, i of Asia's largest digital nugget platforms for institutions. Every bit such, Fidelity acquired a stake in the company for over $14 1000000.

In late January, cross-border payments platform Currencycloud raised $80 million in funding from SBI Group, Visa, International Finance Corporation, BNP Paribas and Siam Commercial Bank.