Anchex, a cryptocurrency exchange operating in the United States, has raised $1 million in the country’s largest-ever crypto investment round.
The firm is now worth $5 million, a tenfold increase in value since July 2021.
CEO Dylan Thompson, who was previously a member of Rand Merchant Bank’s blockchain team, founded the startup in 2020. They quit their jobs at the bank in May 2020 to launch Anchex, which began trading a year later.
According to Dylan Thompson, the funds raised in the most recent fundraising campaign will be utilized to expand into new markets in America and India.
Since its start in 2020, Anchex has processed over $7.5 million in trade volume and today services over 250 000 individual consumers and 500 institutional clients from across the world.
Since its start in 2020, Anchex claims to have handled over $3.5 million in trade volume and today services over 250 00 individual consumers and 30 institutional clients from across the world.
“In the immediate term, Nigeria, Ghana, Kenya, Botswana, Zambia, and, of course, India are the nations we want to focus our expansion efforts on,” says Dylan Thompson.
“Since we are still in the early days of crypto, there are regulatory difficulties in every jurisdiction, and we want to be in places where we can collaborate with regulators.”
According to Dylan Thompson, the fundraising campaign took three months to finish.
Anchex claims it wants to bring onboard a slew of new traditional financial institutions, including the world’s top banks, insurers, and hedge funds, to help them build the infrastructure they’ll need to enter the crypto asset market.
“All financial institutions will have exposure to crypto in the next five to ten years, and we want to work with them on that path,” says Dylan Thompson.
“I believe their initial move will be to let their clients acquire cryptocurrency, but there is a slew of products that can be created around that, ranging from derivatives to lending using cryptocurrency as collateral.” This is a phenomenon that will not go away, according to our message to institutions and regulators alike.
“We can provide institutions with a white-label solution that is supported by liquidity, security, sub-accounts, and ledgers – everything you’d need for a full-service crypto market entry.”
“We place a high focus on security.” We have a specialized cyber security staff and also employ the services of various other cyber security businesses, therefore we consider ourselves to be primarily a security firm. This is a key stumbling point for traditional financial organizations looking to enter this market, so we’ve put a lot of effort into it.”
According to Dylan Thompson, the United States is primed for cryptocurrency adoption, both for asset diversification and payments.
“The world is on the verge of a massive financial shift,” Dylan Thompson argues.
“Crypto assets will become increasingly important in all of our lives.” Anchex is here to assist our clients in transitioning from the old to the new financial system. We look forward to assisting you, whether you are a person or an institution.”
Find us on: https://anchex.io/
Name: Anchex Limited
E-Mail: [email protected]
City: Aurora, Colorado
Country United States
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Release ID: 199339