Participated · Series C · Aug 2021

Matrixport provides crypto financial services including digital-asset custody, trading, lending and structured products. The firm says it has $10 billion in assets under management and custody, and more than $5 billion in average monthly trading volume. It was launched by Jihan Wu and reached unicorn status in August last year, less than two years after its launch. Matrixport has said it faces no risk of insolvency, though 79 users suffered losses in products linked to FTX. The company routinely engages with investors and said the funding commitments reflect confidence in its ability to capture opportunities from recent industry developments. Earlier investors include Qiming Venture Partners, IDG Capital and Dragonfly Capital. Matrixport is a crypto banking and financial services startup that bills itself as a "neo bank" and was spun off from Bitmain. It offers custody, trading, lending, structured products and asset management for cryptocurrencies and digital assets. The company has held over $10 billion in client assets under management and custody as of March 2021 and recorded $5 billion in monthly transactions across its product lines. Matrixport has more than 220 employees serving institutional and retail customers in Asia and Europe and currently holds licenses in Hong Kong and Switzerland. Leadership includes co-founder and CEO John Ge and co-founder and chairman Jihan Wu. The company intends to use new funding to invest in R&D, expand its product portfolio, improve user experience, increase global reach and secure additional operating licenses.