Digital currency has the power to bring efficiency, innovation and most importantly, it can bring equality. But, in order for this to happen, it is first necessary for these digital currencies to become easily accessible and simple to use, so everyone will be able to take advantage of them. These days, most of the crypto services that exist are difficult to understand as well as use. Furthermore, functionality like participating in futures trading, spot trading or staking services is not readily available for those who are not active in the traditional financial market space. Therefore, mass adoption will only become possible if the whole process, from the buying of coins to executing complex transactions, has to become more straightforward.
This is the primary concern that BitMart, a leading crypto exchange, aims to address and it plans on doing so by developing an open and diversified financial system in the near future. In the long-term, they want to create a system that can be a part of the future world of Web 3.0. This leading exchange has proven that it is on its way to do so through the Series B funding round that it just completed, which brought it to an impressive valuation of about $300 million.
The Series B funding round was led by the private equity firm based in New York, Alexander Equity Ventures and this is the same company that invested in some of the renowned industry disruptors, like Kraken, Spotify and Airbnb. Other companies that joined it in the funding round included names like Chaos Ventures, Alpha Square Group and others. Alexander Equity Ventures’ manager, Jonathan Gazdak spoke about the partnership. He said that they were excited about supporting and working with the talented team of professionals at BitMart. He said that it was a well-managed organization that had seen tremendous success and growth in the digital asset space.
The manager continued that the disruptive technology of the exchange had helped them in becoming an industry leader quickly. He said that they were pleased with the current state of the company and were looking forward to be involved in the business’s future evolution. BitMart was established in 2017 and has experienced exponential growth, as obvious from the increase of 100x in its daily active users in the last ten months and its team members has also doubled. A number of offerings have also been launched by the exchange in the easy-to-use category, which include locked savings and flexible savings for crypto users.
The business is also taking advantage of their venture capital branch called Cipholio Ventures for engaging connections with a number of decentralized projects. BitMart is on the list of the top 15 crypto exchanges that can be found on CoinGecko and it is offering more than 700 tokens to users in around 11 markets. These include popular names like Ethereum (ETH) and Polkadot and even extends to non-fungible tokens (NFTs) as well as the greater metaverse. Some new earning opportunities have also been offered to users via trusted institutional partners.