Derivatives Platform XMEX Secures $6 Million Series A Financing

Wednesday, 15 April 2020, 20:00 HKT/SGT

Source: XMEX

Leading Crypto Derivatives Platform targets significant growth in employee numbers to meet global user demand

Seychelles, Apr 15, 2020 - (ACN Newswire) - Crypto derivatives platform XMEX has announced the successful raising of $6 Million in a Series A funding. Investors that participated in the round include Circle Fund, Asia's first fully compliant crypto fund and Kylin Prime Group, the Switzerland based investment group.

An added strength of the investment agreement will also give XMEX the ability to draw on Circle Fund and Kylin Prime Group's experience in global expansion and regional/local compliance requirements.

CEO and Co-founder of XMEX, Allen Wong said: "The closure of our Series A is a pivotal moment in our history and will help spur us on in our mission to become the world's leading and most compliant crypto asset derivatives exchange."

Circle Fund is Asia's first fully complaint crypto hedge fund. Circle Fund employs a unique hybrid approach, day-trading in the public crypto markets based on a multi-factor strategy and invests into earlier-stage projects based on its venture strategy.

The funding partner of Circle Fund, Ge Heng said: "We have already invested in several successful crypto currency exchanges, and our experiences have proved extremely positive and give us great confidence to invest in the derivatives trading platform space. We were particularly attracted by XMEX's strong innovation and R&D capabilities which are crucial to grow in this industry and remain compliant."

Kylin Prime Group is headquartered in Zug, Switzerland, and it is committed to helping internationally-minded investors, entrepreneurs, and businesspeople build a brighter future in a globalized world; its business covers providing professional investment and consulting advice, asset management, and banking services.

Kai Dai, Chairman of Kylin Prime AG, said: "As an investor in XMEX it gives me confidence to see that the company has ambitious but practicable expansion plans and has been able to conclude this, funding including being able to attract a company of the caliber of Circle Fund. I am looking forward to seeing XMEX grow on the back of this investment and continue to bring great value to the market."

Established in 2018, XMEX is developed and operated by an international professional team to provide the most professional and smooth USDT perpetual contract trading services for global digital asset users. In line with its commitment to always put users first and safeguard their interests, XMEX adheres to the strictest compliance measures, and delivers transparent and trusted transactions based on the robustness of its platform and procedures.

XMEX now has over 1 million users, with daily transactions averaging in excess of US$ 500 million.

Contact:
Leo Zhao | Leo.zhao@xmex.co
XMEX: https://xmex.co/
Kylin Prime Group: https://www.kylinprime.com
Cirlcle Fund: http://www.circlefund.com

Topic: Press release summary
Source: XMEX
Sectors: Crypto, Exchange