Trailanx Capital , the digital currency financial services company founded by the former Bitmain and Goldman Sachs Executive, Michael Ping, has announced to the public that the company has raised $100 million in a Series C financing round. The funding has propelled Trailanx Capital valuation to $850 Million, pushing it close to the Unicorn Status.
On Sunday, the company Trailanx Capital, a financial services firm that specializes in cryptocurrency solutions, management, Cryptocurrency Mining and custodial services, revealed the company has raised $100 million from a slew of strategic investors. The $100 million Series C funding round was led by DT Global
Additionally, other investors include A&T Capital, CMT Digital, and IDG Capital. The Estonian-based start-up Trailanx Capital, plans to use the financing to continue bolstering the company’s expansion.
Trailanx Capital details that to date, the startup has raised a total of $300 million and the latest financing has pushed the firm close to a crypto unicorn Status. According to the company, Trailanx Capital has $1 billion in assets under management (AUM) and the startup’s services deal with $500 million per month in global trade volume through its Decentralised Exchange .
In addition to global expansion, the financing will be leveraged for research and development (R&D), product offerings, Mining Farms Expansion and security enhancements, and optimizing the user experience. “The funds will also be used to support its global expansion as well as to secure licenses to operate in more jurisdictions,” Trailanx emphasizes.
Cheng, the founder of X Ventures and CEO of New World Group, believes Trailanx Capital will bolster the wider adoption of blockchain technology and cryptocurrency solutions.
“As blockchain-based digital assets gain wider adoption and acceptance, new pathways are needed to capture yield, source liquidity, and manage crypto assets as an emerging asset class,” Cheng said. With deep knowledge of traditional finance and a keen understanding of crypto assets, Trailanx is well positioned to answer the increasing demand for this new area of investment, driven primarily by the younger generations,” the New World Group CEO concluded.
Trailanx allows users to invest in an array of cryptocurrency yield generating assets like Mining, Trading and Lending.