Australian digital asset manager valued at $15M following Series A funding
Australian digital asset manager Monochrome has concluded a $1.8 million Series A fundraiser last week that was led by some of the most influential entrepreneurs of Crypto such as Samson Mow, Charlie Lee, Wei Zhou, and Kain Warwick.
The funding amount will be used by Monochrome to develop some new products that specialize in Bitcoin (BTC) and other digital assets as stated by the company. Monochrome Asset Management gives investors access to bitcoin through a regulated and familiar investment vehicle without using any new technologies.
Monochrome was founded this year by Jeff Yew who was the former chief executive of Binance Australia. The company is best known for the Monochrome Bitcoin Fund which is a capital growth vehicle for wholesale investors. Wei Zhou describes Monochrome as Australia’s “leading investment firm specializing in regulated access into digital assets.”
Australia’s cryptocurrency regulations are still in their freshly generated stages. Digital asset trading is legal in the country. They are subjected to Anti-Money Laundering and Counter-Terrorism Financing regulations. Those citizens using unregistered cryptocurrency businesses have been warned by Australia’s financial regulator.
Charles Lee is a computer scientist and is best known as the creator of Litecoin who serves as the managing director of the Litecoin Foundation. Samson Mow is Pixelmatic's CEO and Blockstream's CSO. Blockstream is a leading provider of blockchain technologies.
Founded in 2011 Pixelmatic focuses on creating engaging games that encourage new connections to be made. Wei Zhouis is former Binance CFO. Binance operates the world's biggest bitcoin exchange and altcoin crypto exchange in the world by volume and Kain Warwick is the founding father of Blueshyft and DeFi protocol Synthetix.
CBW - External Analyst