Crypto Exchange Anchex Raises $1M to Expand Customer Base
Annie Li Mar 18, 2022 08:45
U.S.-based cryptocurrency exchange Anchex has raised its largest-ever investment of up to $1 million to expand the customer market.
U.S.-based cryptocurrency exchange Anchex has raised its largest-ever investment of up to $1 million to expand the customer market.
According to Dylan Thompson, the funds raised will be used to expand into new markets in the U.S. and India.
Dylan Thompson said that since the company is still in the early stages, he hopes to work with regulators and added that:
"In the immediate term, Nigeria, Ghana, Kenya, Botswana, Zambia, and, of course, India are the nations we want to focus our expansion efforts on."
The raise took three months, and the company is now valued at $5 million, a tenfold increase since July 2021.
Since its inception in 2020, Anchex has processed over $7.5 million in transaction volume and today serves over 250,000 individual consumers and 500 institutional clients from around the world.
"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."
The startup was founded in 2020 by Dylan Thompson, a former member of the RAND Merchant Bank blockchain team.
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