FalconX announced a new investment from American Express Ventures. The new investment will add to the past ones from big companies like Coinbase Ventures.
FalconX focused on business-level cryptocurrency tradings, aims to leverage the new investments to expand offerings. They try to attract more enterprises to the cryptocurrency ecosystem by offering easy access to trading platforms.
More Money From Traditional Players
The wave of investment from traditional companies in the innovative blockchain-based ones is not something new. Many old companies have acknowledged the importance of the blockchain movement and more especially, the cryptocurrency revolution. American Express is not the first and also not the last one to invest in a cryptocurrency-related company. But their investment means a lot for the community, because of the role they have in the financial sector.
Institutional investors are vital players in adoption and trading in the cryptocurrency community. FalconX knows it very well and has focused clearly on that sector. They provide tools for enterprises to trade cryptocurrencies easier. They have been successful in raising money. Many big investors like Accel, Accomplice VC, Coinbase Ventures, Fenbushi Capital, Flybridge Capital Partners, Lightspeed Venture Partners, and Avon Ventures, a venture capital fund affiliated with FMR LLC, the parent company of Fidelity Investments support them.
FalconX ran its last funding round in May 2020. They have experienced considerable growth since then (claimed 350%) and currently serve about 250 enterprise clients. The company is classified as an all-in-one service provider for enterprise cryptocurrency trading. Their transaction volume has surpassed $2 billion and may rise due to the new investors. They plan to attract as more enterprise clients as possible by providing more comprehensive solutions. Raghu Yarlagadda, FalconX CEO and co-founder said:
“We’re seeing growing interest from traditional asset managers who are adding cryptocurrencies as an inflationary hedge, catalyzed by recent macro-economic policies. It is a great pleasure to welcome American Express Ventures as we continue to invest in expanding FalconX’s product offering.”
Investing in innovative startups is a common strategy in American Express ventures. They have invested in FalconX to be part of the new movement in the fintech industry. Harshul Sanghi, Global Head of Amex Ventures, said about the latest investment:
“FalconX is helping bring simplicity to the increasingly complex digital asset space through a platform that provides discovery and pricing all in one place. Amex Ventures invests in startups as a way to better understand emerging areas of the payments ecosystem, and we are pleased to support FalconX as it continues to drive innovation in the digital asset space, including digital currencies.”
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