FalconX has announced a USD 210 million Series C financing round, valuing the company at USD 3.75 billion.
FalconX is a digital assets and cryptocurrency financial services company that provides institutions trading, credit, and clearing across major cryptocurrencies. The round was led by Altimeter Capital, Sapphire Ventures and existing investors B Capital Group and Tiger Global Management, with participation from Mirae Asset.
According to Business Wire, in just three years, FalconX has become one of the most valued institutional cryptocurrency companies in the world, driven by strong unit economics, profitability, and revenue growth across business lines. FalconX uses machine learning to provide institutions a single counterparty with access to global cryptocurrency liquidity with 99.9%+ uptime through its web interface, APIs, and 24/7/365 white glove trading desk.
Its credit business enables institutions to access short term financing for trades. FalconX plans to officially announce several new product offerings in the coming months.
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