Digital assets platform FalconX has soared to $8bn valuation after closing its Series D round on $150m.
GIC served as the lead investor, with contributions also coming from Thoma Bravo, Wellington Management, Adams Street Partners and Tiger Global Management.
FalconX is a digital asset platform that empowers institutions to access and manage all of their crypto strategies via a single interface and seamless workflows. Its platform collates trading, credit and clearing into a single location.
Its crypto-as-a-service offering powers banks, FinTech institutions and investment applications to easily add crypto to their product offerings with a goal of enabling one billion users to join the crypto world.
The FinTech company claims to have experienced its strongest quarter of customer onboarding in Q1 2022.
FalconX CEO and founder Raghu Yarlagadda said, “FalconX is one of the very few crypto prime brokerages who do not take on market risk, so we’re not in conflict with our clients and their trading strategies.
?In light of recent market conditions, this is extremely valuable to our clients who demand a reliable market infrastructure provider. This investment is a validation of our client-first focus, the health and strength of the crypto industry, and the move towards digital asset transformation.”
This funding round has more than doubled FalconX valuation after its Series C round in August. The company was valued at $3.75bn after a $210m Series C.
FalconX has raised over $430m in funding and is one of the most valuable crypto prime brokerages in the world, it claims.?
FalconX recently became the first CFT-registered crypto-focused swap dealer and one of the first crypto-focused primary level members of the International Swaps & Derivatives Association.
Fellow cryptocurrency firm BlockFi recently picked up $250m in a revolving line of credit. The company aims to bridge cryptocurrencies and traditional financial and wealth management products.
Copyright ? 2022 FinTech Global
