Mercari Exchange Australia Announces Completion of Series ‘A’ Fundraising to Expedite Development of Crypto-Asset Offering including Derivatives
Summary
SYDNEY & NEW YORK--(BUSINESS WIRE)--Mercari, which operates a Tier 1 wholesale Australian financial exchange for the trading of derivatives, announced today the closing of a fundraising round to enable it to further expand its current activities and, additionally, to develop new institutional product solutions, including crypto-assets. Investors in the round include Digital Currency Group, an established leader and investor in the crypto and blockchain asset class; MCR Unlimited, a private investment group with expertise in innovative financial platforms, products and services; Jeff Yew, the founder and CEO of Monochrome Asset Management and former CEO of Binance Australia; DCA Global Derivatives management; and Dragon Tree Capital Australia. Mercari is licensed in Australia to operate a Tier 1 wholesale financial derivatives market exchange (“AML”) under Section 791A of the Australian Corporations Act. In addition to its investment portfolio, DCG is the parent company of Genesis (a global digital asset prime brokerage), Grayscale Investments (the world’s largest digital currency asset manager), CoinDesk (a leading financial media, data, and information company), Foundry (a leader in bitcoin mining and staking), Luno (a leading cryptocurrency platform with a large international footprint), and TradeBlock (an institutional trading platform). Jeff leads a team of over 150 years of combined experience in financial markets, funds management, and digital asset investments at Monochrome.