CANADIAN CRYPTOCURRENCY TRADING PLATFORM VIRGOCX RAISED $7.9M
Global venture fund Draper Dragon has led funding, including Blockdream Ventures, Cobo Ventures, Molecular Group, Sora Ventures, and How Link Investment, according to a statement Monday.
On the regulatory side, the Toronto-based company has been accredited by the Canadian Security Administration (CSA) as a Limited Seller for crypto assets in all Canadian provinces and territories. At that time, VirgoCX was one of eight registered crypto trading platforms on the Ontario Securities Commission (OSC).
VirgoCX CEO Adam Cai told CoinDesk that the company is working hard to secure proper operating licenses in Canada, and is preparing for possible expansion in Australia, the UK, and other parts of Europe.
"It's a natural progression" after obtaining Canadian permits, Cai said. "We have all the infrastructure infrastructure needed," he said by telephone.
The parent company of the exchange, Virgo Group, is also planning to add staking, DeFi crop farming and other services "soon," according to its statement.
Virgo Group seeks to help the NFT market by increasing revenue, improving user experience and reducing barriers to participation. Virgo Group wants to introduce the "NFT Web 3 Liquidity Aggregator to help users quickly complete the sale at competitive prices and seamless information," according to its statement.
Cai told CoinDesk that Virgo Group will soon be launching an established NFTs market maker, in the hope of helping customers sell their NFTs more quickly.