Institutional-focused cryptocurrency platform FalconX has raised $150 million in a Series D funding round, raising the company’s valuation to $8 billion.

We are excited to announce our $150 million #SerialD led by GIC and @BCapitalGroup. Institutional #crypto is alive and well, and together with the world’s leading investors, we are powering the next phases. #digital asset transformation. https://t.co/s2fBOVwcdv pic.twitter.com/Lmm2AAzPXL

— FalconX (@falconxnetwork) June 22, 2022

The round was led by GIC and B Capital, with contributions from Thoma Bravo, Wellington Management, Adams Street Partners and Tiger Global Management.

“This investment is a testament to our customer focus, the health and strength of the crypto industry, and our effort to transform digital assets,” said Raghu Yarlagadda, FalconX founder and CEO.

The company noted that despite the volatility in the markets, the first quarter of 2022 was the most successful period for it in terms of attracting new customers. FalconX believes this is due to the demand for brokerage services from a wide variety of corporate bodies.

“We are in the early stages of moving towards digital asset transformation and cryptocurrencies are the first use case. In the press release, soon every asset will be de-tokenized and become truly global.

Earlier, some major crypto companies, including Coinbase, Crypto.com, and BlockFi, announced staff cuts in the current market conditions. FalconX emphasized that they continue to recruit personnel in various departments.

Recall that in August 2021 FalconX closed its $210 million Series C funding round at a valuation of $3.75 billion.

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