Singapore’s Digital Asset Platform Successfully Bags $1.7 Million Investment, Aims To Rope In Wealth Managers: Best Crypto to Buy?
Singapore-based B2B digital asset platform BetterX successfully concluded its pre-Series funding round, minting a cool S$2 million (approximately $1.72 million). The funding round saw the participation of existing as well as new investors.
Adam Switzer, Co-Founder and CEO of BetterX, said, “With the increasing institutional adoption of digital assets, we are committed to providing wealth managers with seamless, compliant, and institutional-grade solutions to bridge traditional finance with the digital asset ecosystem.”
New investors include Scalare Partners, Wholesale Investor, B7 Capital, and the Founder of Audacy Ventures. The funding round also included existing investors such as Aura Group and Tibra co-founder Kinsey Cotton, alongside Sydney’s Grand Prix Capital and Singapore’s Aument Capital, along with other angels including Sabrina Tachdjian—Head of Fintech and Payments at HBAR Foundations and Riaz Mehta, Founder of Crypto Knights.
There has been a sharp uptick in on-chain companies receiving funding to further innovate the crypto sector for future applications in the fields of blockchain, AI, and finance.
Research done by The Tie suggests that 137 crypto companies have collectively raised $1.11 billion in February alone. DeFi projects have, by themselves, secured a cool $176 million across 20 initiatives.
Notably, eight business providers have managed to bring in a total investment of $230 million. Meanwhile, investors generated considerable interest in startups that focused on security services, payments, and artificial intelligence.
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ON Chain Funding On the Up: BetterX Follows Suit
Switzer, former investment analyst and COO Eric Chau, and co-founder Kinsey Cotton founded BetterX in 2021.
BetterX specializes in providing institutional-grade infrastructure for tokenization, trading, and portfolio management. Investors, through their platform, can securely access, trade, and manage digital assets on behalf of their clients, thereby addressing key challenges in managing asset custody, security, and regulatory compliance.
Now that its Australian operations are profitable, the company plans to expand its operations into Asia, the Middle East, and the US with the recent funding that it has received.
BetterX’s S$2 million funding closely follows the staggering backing received by Binance and Mesh recently. Abu Dhabi-based AI investment firm MGX invested $2 billion in Binance, marking it as Binance’s first institutional investment entirely made in stablecoins.
Binance CEO Richard Teng said, “This investment by MGX is a significant milestone for the crypto industry and for Binance. Together, we are shaping the future of digital finance.”
Mesh, a San Francisco-based crypto payment network, also closed an $82 million series B funding round, paid entirely in PayPal USD (PYUSD) stablecoins.
Explore: Mesh Secures $82 Million In Funding: Payment Made In PayPal USD Stablecoin
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Key Takeaways
- BetterX raised S$2M to expand into Asia, the Middle East, and the U.S.
- Crypto funding is surging, with BetterX following Binance and Mesh in securing major investments.
- Institutional adoption of digital assets is growing, driving increased investment in blockchain and AI-powered finance solutions.
The post Singapore’s Digital Asset Platform Successfully Bags $1.7 Million Investment, Aims To Rope In Wealth Managers: Best Crypto to Buy? appeared first on 99Bitcoins.
