Cryptocurrency derivatives exchange Deribit completes new round of financing, valued at billions of dollars

Original: at The Block , the original author: Celia Wan

Source: Planet Odaily, Translator: Azuma

The Block learned from a relevant investor that Panama's cryptocurrency derivatives exchange Deribit has completed a new round of financing led by QCP Capital and Three Arrows Capital, releasing 10% of its shares, with a latest valuation of hundreds of millions of dollars.

According to Su Zhu, chief executive officer of Three Arrows Capital, Deribit CEO John Jansen and chief operating officer Marius Jansen still hold majority stakes.

  • Odaily Planet Daily Note: In January this year, The Block reported that Deribit was seeking to sell 10% of its common stock to QCP Capital and Three Arrows Capital at a nine-figure valuation (in US dollars). Still looking for more investors to split this 10% stake. It is reported that at that time, the exchange was positioned by investors as "very valuable", especially compared with the $ 8 billion valuation of BitMEX and the $ 700 million- $ 1 billion valuation of FTX.

Deribit CEO John Jansen said in a statement shared with the media: "Three Arrows and QCP will be important strategic partners for us to move forward. These two companies are well-known in the cryptocurrency derivatives field and have good History. "

QCP Capital partner Darius Sit commented: "Deribit will be the cornerstone of its exponential growth as cryptocurrencies make great progress on their journey to become an institutional investment and trading asset class."

Deribit expects to leverage QCP Capital and Three Arrows Capital's deep relationship in Asia to help it penetrate the markets currently occupied by Asian local exchanges such as OKEx and FTX.

Currently, Deribit still dominates the wider Bitcoin options market, accounting for 80.6% of total open interest. FTX and OKEx followed closely with 7.7% and 5.7% respectively. Although Chinese companies such as Matrixport and Babel Finance are already trading on Deribit, Deribit also hopes to attract more retail and institutional traders.

Su Zhu further stated: "As of now, Deribit has achieved 100% organic growth without market promotion. Traders have chosen it because of its excellent product quality. From now on, the new task will be to expand the product Supply and let more traders know about its products. "