The cryptocurrency industry is drawing an increasing number of institutional players. This is evident from new investments in infrastructure and the growing attention companies pay to Bitcoin as an asset class. The most notable events of the past weeks are in ForkLog’s round-up.
Bloomberg reports Matrixport plans to raise $100 million
The crypto-lending platform Matrixport, led by Jihan Wu plans to raise $100 million at a $1.5 billion valuation.
According to Bloomberg sources, the company has already secured commitments from investors totaling $50 million. The search for additional participants in the round continues.
According to a presentation filed in Singapore, Matrixport processes $5 billion in transactions per month and manages assets worth tens of billions of dollars. The company employs about 300 staff.
Onomy Protocol team in the Cosmos network raises $10 million
The Onomy Protocol developers raised $10 million in a sale of SAFT-contracts to Bitfinex, GSR, Ava Labs, CMS Holdings, DWF Labs and other investors.
The project aims to converge DeFi and forex markets through a cross-chain bridge, a DEX and a non-custodial mobile wallet. The raised funds will be used to expand the team.
In the testnet, Onomy has 40,000 unique users who have completed more than 800,000 transactions.
In the future, a transition to a DAO is expected through the issuance of its own NOM tokens.
Binance backs hardware-wallet maker NGRAVE
Binance’s venture arm announced strategic investments in the hardware-device maker NGRAVE.
Binance Labs will also lead the upcoming Series A financing round for the company.
Ruben Merre, co-founder and CEO of NGRAVE, said the team’s main goal is to “make the world of cryptocurrency a safe place for everyone.”
Founded in 2018, the company developed the ZERO hardware wallet with a touchscreen, the LIQUID mobile app, and a backup card GRAPHENE made of stainless steel.
Hypra Fund acquired stake in Boosty Labs blockchain development studio
Web3-focused Hypra Fund acquired a 25% stake from NetSolid Investments in Boosty Labs, a blockchain application development studio. The deal amount was not disclosed.
Hypra becomes the studio’s sole external investor. In addition to financial backing, the fund intends to actively participate in Boosty Labs’ operations, sales and marketing.
The centre specialises in outsourced development for blockchain technology, systems integration, automation of technological and business processes, and IT consulting.
The company was founded in 2017 by Ukrainian entrepreneur Viktor Ignatyuk. The headquarters are in New York, and the firm employs more than 150 staff worldwide.
Boosty Labs counts more than 150 crypto-industry projects among its clients, including Ledger, ConsenSys, Celsius Network, Storj Labs, Bloom Protocol, NEM, Elixir and NEAR Protocol.
Report: Ukrainian Web3 startups attracted $1 billion over four years
Since 2017, more than 80 Web3 startups have been launched in Ukraine, collectively raising about $1 billion in investments over the past four years.
According to Hypra, the leaders by investment volume are the team behind the Solana blockchain platform and the developers of NEAR Protocol — they received $315.8 million and $524 million respectively.
According to the report, more than 50 Ukrainian companies specializing in decentralized technologies serve clients on a global market.
Entrepreneurs from Ukraine have founded 10 venture funds, including those focused on digital asset players. The largest by number of relevant portfolio companies are ZBS Capital (82), TA Ventures (6), Hypra (4) and SID Fund (3).
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