Cabital, a Singapore-based digital assets institution, raised $4m in seed funding.
The round, which increases the company’s valuation to $40m, was led by SIG, Dragonfly, and GSR.
The company, which had previously raised $3m in angel funding, intends to use the funds to advance growth in Europe, onboard senior talent and further develop its proprietary digital wealth management platform.
Led by Raymond Hsu, Co-founder and Chief Executive Officer, Cabital provides Cabital Earn, a cryptocurrency wealth management platform for customers to try to acquire high returns on their investments in cryptocurrencies up to 12% APY. Customers can subscribe to flexible and fixed-term savings plans in USDT, BTC, and ETH.
Cabital is registered in the Republic of Lithuania as a cryptocurrency exchange operator and a cryptocurrency depository wallet operator and has entities incorporated in the British Virgin Islands, Singapore, Malaysia and Mainland China. It carries out its activities in accordance with European AML/CTF principles and Financial Crime Investigation Service’s requirements.
Cabital is protected by Fireblocks, one of the most secure wallet solutions in the industry.