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HomeUSTokenize Xchange secures additional US$11.5 mil investment from Trive & HNWIs

Tokenize Xchange secures additional US$11.5 mil investment from Trive & HNWIs

Aims to quintuple its headcount within the next 18 months
Latest investment elevates Tokenize’s Series A fundraising to US$23 million
Tokenize Xchange has announced securing an additional US$11.5 million (RM54.5 million) in its Series A Phase 2 funding from Trive and high-net-worth individuals (HNWIs).
The leading digital asset exchange in Singapore said this latest investment elevates its total Series A fundraising to US$23 million (RM109 million), with the goal to reach US$33 million (RM156 million) by year-end.
[RM1 = US$0.21]
Founded by serial entrepreneur Christopher Quek, Trive is a Singapore VC firm investing in high-growth technology startups that create positive social impact, improving the health and wealth of people in Southeast Asia. The company previously led the Phase 1 of Series A funding with an investment of US$11.5 million in 2022.
According to Tokenize, it is on track to expand its team in Singapore, aiming to quintuple its headcount within the next 18 months. A quarter of these new positions will focus on enhancing compliance and operations, underscoring its commitment to governance, control, and regulatory adherence following recent challenges in the cryptocurrency sector.
Hong QiYu (pic) founder and CEO of Tokenize Xchange, said,

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