One of Asia’s biggest cryptocurrency lenders Matrixport Technologies Pte is looking to raise a staggering $100 million in fresh funding at a $1.5 billion valuation. This development comes at a time when major crypto lenders like BlockFi and Genesis have been facing a massive liquidity crunch amid the FTX collapse.
The Singapore-based crypto lender said that they have a commitment of at least worth $50 million from lead investors. Despite the crypto winter this year, the company is eyeing a valuation of $1.5 billion, 50% up from $1 billion last year, said people familiar with the matter.
The deal still needs to be finalized as the company is seeking investors for the other half of the round. Ross Gan, the company’s public relations head also confirmed the fundraising plan. He said:
“Matrixport routinely engages with key stakeholders as part of its normal course of business, including investors keen to participate and enable our vision as a digital assets financial services provide
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