Coinbase, SoftBank Back $26M Funding for Brazilian Crypto Asset Manager Hashdex
Hashdex, a Brazilian crypto asset manager, has raised $26 million in investments.
- Venture capital firm Valor Capital Group led the funding, with SoftBank, Coinbase Ventures and other local investors also participating, Bloomberg reported Wednesday.
- The Rio de Janeiro-based company, founded in 2018, has about 4 billion reais (almost $76 million) in assets under management.
- “Investors are still getting to know crypto, and we see room to offer more products in Brazil,” Hashdex CEO and former Microsoft executive Marcelo Sampaio told Bloomberg.
- Hashdex plans to expand beyond Brazil and boost its staff from 25 to as many as 100 by the end of this year.
- The firm recently launched a crypto index fund, the Hashdex Nasdaq Crypto Index Fundo de Indice.
Also read: Stablecoins Like USDC See Growing Demand in Latin America: Bitso CEO
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