Virgo CX lands C$10m in Series A led by Draper Dragon

Toronto-based cryptocurrency trading platform Virgo CX has collected C$10 million in Series A financing. The round was led by Draper Dragon, with participation from Blockdream Ventures, Cobo Ventures, Molecular Group, Sora Ventures and How Link Investment. Virgo CX was created in 2018 by The Virgo Group of Companies.

PRESS RELEASE

Toronto, June 6, 2022 (GLOBE NEWSWIRE) — VirgoCX, one of Canada’s leading cryptocurrency trading platforms, has raised $ 10 million in Series A funding. This investment was led by the international venture fund Draper Dragon with the participation of Blockdream Ventures, Cobo Ventures, Molecular Group, Sora Ventures, and How Link Investment. This capital will help companies accelerate their global expansion and enable them to offer more innovative products and services.

“The Virgo Group of Companies has brought together a highly effective global team of nearly 100 people through steady growth over the past few years. With the completion of A Round Funding, Virgo will evolve faster, further improve its products and be global. “We will expand our business to,” said Adam Cai, CEO of Virgo CX. “We have a unique business model and an ambitious team. We believe the Virgo Group will grow exponentially in the next 1-2 years.

Founded in 2018, Virgo CX is headquartered in Toronto, Canada. It provides secure, easy and affordable access for users to buy and sell cryptocurrencies. The company’s mission is to accelerate the adoption of cryptography and has been working hard to reach that goal. From the beginning, VirgoCX has made many improvements to its platform and products, thanks to its user-first approach. These efforts have brought about breakthrough growth, with trading volumes increasing by 1,700% year-on-year between 2020 and 2021, with trading volumes exceeding $ 1 billion.

The success achieved in Canada has demonstrated management’s ability to effectively expand. The funds raised will help the company realize its vision of becoming a reliable and full-service solution for all cryptocurrencies to the world. It will grow rapidly by expanding the range of products and services, and will enter international markets such as Australia and the United Kingdom in 2022.

The Virgo Group has created a company roadmap to provide more comprehensive products and services to solve many of the problems that currently exist in the crypto market. For example, despite the transformational impact of the NFT on the crypto industry last year, the NFT market still suffers from pressing issues such as low liquidity, substandard user experience, and high barriers to participation. increase. The Virgo Group aims to launch the NFT Web 3 Liquidity Aggregator, which helps users complete sales instantly with competitive prices and a seamless experience. Apart from the urgent need for NFT instant liquidity services, evolving companies will introduce more innovative services such as staking and DeFi yield farming in the near future to meet the demands of fast-growing customers. I also plan to do it.

These services are delivered to our clients in a reliable manner as the company is at the forefront of complying with applicable laws and regulations. VirgoCX is pleased to announce that it has been approved by the Canadian Cryptocurrency Manager (CSA) as a restricted dealer for crypto assets in all Canadian states and territories.

“Governments around the world are increasingly leaning towards comprehensive crypto regulations. The Virgo Group team has a deep understanding of both compliance and product innovation, making it a globally influential integrated cryptocurrency service provider. We believe that we have great potential to become. Andy Tang, a partner of Draper Dragon, said:

As the industry as a whole shifts to compliance, the Virgo Group believes that a strong regulatory structure will ensure the integrity and resilience of the crypto market and enhance investor protection.

About Virgo CX
Founded in 2018, Virgo CX is committed to making crypto trading secure, easy and affordable for Canadians. It is Canada’s trusted crypto trading platform, dedicated to streamlining the trading experience and empowering clients with advanced technology, high liquidity and best-in-class security.

About Virgo Group

Founded in 2021, the Virgo Group companies are dedicated to providing fee-free crypto trading services globally. It covers multiple business lines, from retail flats to crypto exchange, crypto asset management, NFT liquidity management and more. With constant innovation in mind, Virgo Group is ready to become an integrated global digital asset service provider.