VirgoCX Raises 10M in Series A Funding, Announces Global Expansion

VirgoCX, a Canadian cryptocurrency trading platform, has raised $7.95 million (C$10 million) in a Series A fundraising round. The funds will help the company expand globally and offer new products and services. According to a statement released Monday, Draper Dragon led the fundraising, comprising Blockdream Ventures, Cobo Ventures, Molecular Group, Sora Ventures, and How Link Investment. Restricted Dealer in Crypto Assets On the regulatory front, the Toronto-based firm has been recognized as a Restricted Dealer in crypto assets in all Canadian provinces and territories by the Canadian Securities Administrators (CSA). Meanwhile, the Ontario Securities Commission has classified VirgoCX as one of eight registered crypto trading platforms (OSC). “Through steady growth over the last few years, the Virgo Group of Companies has amassed a highly successful global staff of approximately 100 people. With the completion of the A Round, Virgo will be able to evolve more quickly, improve its products, and extend its operations globally “ VirgoCX’s CEO, Adam Cai, stated, “We have a unique business model and a highly motivated team, I believe the Virgo Group will have exponential growth in the next 1-2 years.” Virgo Group The Virgo Group seeks to assist the NFT market by enhancing liquidity, improving user experience, and lowering entry barriers. According to their announcement, Virgo Group plans to build an “NFT Web 3 Liquidity Aggregator ...