Midas Eyes Crypto Trading Product After Raising $45 Million
- Midas has concluded the “biggest ever” Series A fundraising by a Turkish fintech.
- Portage led the funding.
- Midas will use the new capital to launch three products.
Retail investing startup Midas announced Monday the conclusion of its multimillion-dollar funding round, terming it the “biggest ever” Series A fundraising by a Turkish fintech.
Since its inception in 2021, Midas has been steadfast in its mission to open Turkey’s retail investment market to over two million users. With the latest funding infusion, the company is poised to expand its offerings beyond the Turkish and U.S. equities, potentially opening up new growth and investment opportunities.
Read More
Coinbase’s Ruling May Send Ripple vs SEC Case to Supreme Court
Cardano vs. Solana: Which Blockchain Has a Brighter Future?
Kraken Wallet Excludes Cardano: ADA Advocates Alarmed
Midas Secures $45M Funding for Expansion
According to a press release dated April 22, Midas has raised $45 million in equity funding to expand and roll out three new products offering cryptocurrency trading, mutual funds, and savings account services.
Sponsored
With the new capital, the company is keen on spreading its wings beyond Turkey’s borders in the next two to five years, targeting expansion to “countries with emerging markets” in the Middle East and North Africa (MENA) region.
“Longer term, we want to broaden our horizons and expand our geographic footprint beyond Turkey to become a prominent regional player.” Midas CEO and founder Egem Eraslan said. We have a long-term view for this company, and short-term market conditions have not hindered that.Midas said it will also use the funding to double its staff. The company currently has a team of 120 employees working from its Istanbul office, already triple the headcount in 2022.
Read about Turkey’s plan for crypto regulation:
Turkey Targets Crypto Taxation and Regulation in 2024
Stay updated on OKX’s expansion to Turkey:
OKX Expands to Turkey with Official Launch of Local Exchange
Sponsored
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Elon Musk 'shot down' OpenAI's ICO plan in 2018 over credibility concerns
Trump policies could take DeFi, BTC staking mainstream — RedStone co-founder
'There is a global race underway for Bitcoin' — Anthony Pompliano
Tether mints $1 billion USDt on Tron, pays zero fees — Arkham