Matixport Is At Its Cloud Nine, CEO Is Pursuing To Raise $40 Million

Priyanka Kulkarni
Priyanka Kulkarni, post-graduated in Business Administration holds worthy experience in market research and investment banking. She is passionate to flaunt her perception towards cryptocurrencies.
  • Matrixport is a Singapore-based startup and supported by Bitmain is in a process to expand its crypto financial services for proficient investors and traders.
  • Matrixport provides cryptocurrency custody, payment products, trade, and loan.
  • The Matrixport opponents include BitGo and American firms Genesis Global.

According to sources Matrixport, a crypto-financial asset launched by Bitmain Technologies Ltd. CEO Wu Jihan is pursuing to raise $40 million. Last year the startup noted revenue between $7 million and $8 million and expects the figure would more than double by the end of 2020.

What exactly the news is all about?

The information was exposed in a slide deck sent to the investors and was seen by Bloomberg.  According to the deck, the firm was valued at $114 million in a previous round.

Matrixport is a Singapore-based startup and supported by Bitmain is in a process to expand its crypto financial services for proficient investors and traders. Later in 2019, the company was cleft from Bitmain was struggling with its monetary issues.

Matrixport provides cryptocurrency custody, payment products, trade, and loan. It also delivers services to official clients including crypto lending platforms, mining pools, mining equipment manufacturers, crypto exchanges and crypto funds.

The Matrixport opponents include BitGo and American firms Genesis Global. Apart from Bitman, the company’s significant partners are CoinEX, BITDEER, BTC.com, and others.

Its co-founder Wu Jihan and Bitmain are the two prime shareholders of this project.

About Matrixport

Launched in July, this prominent start-up targets to be a noteworthy platform for counter trading and lending and custody for digital assets. It is doing business with rich industry resources and foremost technology abilities.

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