The Singapore-based Cabital digital assets institution has received a significant boost following the successful conclusion of its seed funding round. The fundraising round witnessed marquee investors led by SIG, Dragonfly and GSR include $4 million in operating capital, effectively pushing the particular company’s valuation to $40 million.
The particular influx of fresh funds into the company will enable Cabital to further develop the proprietary digital wealth administration platform while expanding its footprint in the European country. The platform’s growth plans will be supported by the add-on of experienced industry hands to its workforce.
Announcing the latest growth, Co-founder and CEO Raymond Hsu said , “Today, Cabital has crossed an important milestone in our journey to create an alternative and safe financial sector. Our purpose is to simplify investing in the crypto globe for average investors using a product that’s simple, protected and sensible. Regardless of whether you are a new or an experienced buyer, we help you get more out of your digital assets to get you nearer to your life goals sooner. ”
On a mission to empower individuals by enabling them to receive passive income with cryptocurrencies, Cabital designs and develops advanced crypto-wealth management products. Its flagship wealth management platform, Cabital Earn offers comes back of up to 12% APY in order to users in the form of daily built up interest fueled by an 80% share of its expense incomes. In addition , it also provides free bank deposits within euros and a transparent purchase tracking and management interface.
Soon Cabital will be including SEPA to its list of payment strategies to support seamless transitions between euros to crypto plus vice versa. By doing so, system will be effectively removing minimal and maximum deposit requirements while offering users the flexibility of creating deposits and withdrawals in any of the supported cryptocurrencies or even fiat (euros).
Meanwhile, Lu Guo – Partner at SIG expressing their pleasure for being element of Cabital’s journey said, “We’ve decided to lead Cabital’s seed round associated with funding as we see a massive surge in crypto expenditure. As cryptocurrency is now entering the mainstream, Cabital is certainly proposing new investment opportunities for crypto-wealth management products, which will meet regulatory compliance specifications as well as maintain strong leadership in this growing market that’s increasingly globalized. ”
Founded within 2020 by Raymond Hsu – a tech plus banking professional who formerly held leadership roles within Citibank, Standard Chartered Bank, eBay and Airwallex, Cabital has a presence in Singapore, Malaysia, Mainland China, Republic of Lithuania and the Uk Virgin Islands. It also owns crypto exchange and crypto depository wallet operator licenses and abides by the Western AML/CTF compliance requirements. Becoming a member of Hsu in Cabital’s leadership team are professionals who have served in various capacities at leading traditional finance plus banking institutions like JPMorgan, Nomura Securities and UBS.
With a combination of effort and timely investments, Cabital expects to present its users along with significant upgrades to the platform by the end of Q3 2021.
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