Brazil's Hashdex raises BRL 135 million in funding

Thursday 13 May 2021 10:00 CET | News

Brazil-based startup Hashdex, a crypto asset investment manager, has raised BRL 135 million in its Series A round.

The round was led by Valor Capital Group, alongside Softbank, Coinbase Ventures (Coinbase‘s investment arm), and Globo Ventures (the venture capital fund by Brazil’s leading communications conglomerate Grupo Globo). Canary, Igah, Alexia, Fuse, Endeavor Scale Up Ventures, and Norte Ventures followed the round.

Hashdex was created in 2018, inspired by the potential of crypto assets. The idea was to simplify the blockchain investment process, from the famous Bitcoin to the more than 5,000 cryptocurrencies on the market. Crypto assets are high-friction investments, subject to high volatility.

Today, Hashdex creates investment products for crypto assets within the Brazilian Securities and Exchange Commission (CVM) regulations. A cryptocurrency exchange (as Coinbase has, for example) is not illegal, but the Brazilian Central Bank does not regulate the bitcoin market. 

To make life easier for those wanting to invest in crypto assets but find it difficult to identify which currency is likely to go up and how to store these assets safely, the company created the Hashdex crypto-asset indices (especially with long-term investments in mind). The idea was to test the exposure of crypto assets to the market through these indices. 

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Keywords: funding, cryptocurrency, blockchain, investment, cryptocurrency exchange
Categories: Blockchain & Cryptocurrencies | Cryptocurrencies
Countries: Brazil
This article is part of category

Blockchain & Cryptocurrencies