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Matrixport, Jihan Wu’s Crypto Lender, Seeks to Raise $100M at $1.5B Valuation

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Matrixport, Jihan Wu’s Crypto Lender, Seeks to Raise $100M at $1.5B Valuation. Matrixport has $5 billion in monthly sales, and $10 billion in assets under management and custody.

Crypto lending company Matrixport, led by Jihan Wu, is looking to raise $100 million at a valuation of $1.5 billion. The Singapore-based company has secured $50 million from high-profile investors, but is still looking for investors for the other half of the round, Bloomberg reported on Friday. cite the source. The loan company appeared to confirm the news by tweeting the news.

The crypto industry has been in great turmoil for the past few months as various cryptocurrencies have seen steep declines from last year’s highs. Matrixport’s competitor in Asia, Babel Finance, has also been restructured to deal with water shortages. These problems are only exacerbated by the collapse of the FTX crypto exchange. Matrixport’s fixed income contribution is the failure of FTX. Matrixport closed a $100 million Series C round in August 2021 that valued it at $1 billion, led by DST Global, C Ventures and K3 Ventures.

The company has $5 billion in monthly trading volume, $10 billion in assets under management and custody, and $700 million in outstanding loans, according to its website. Matrixport “serves people and more than 500 companies in Asia and Europe” and has licenses in Hong Kong and Switzerland, according to LinkedIn.

Jihan Wu is the founder of Bitmain, the world’s largest manufacturer of bitcoin mining rigs, and the chairman of Matrixport.

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