Rothschild Investment Trust partners with Liberty city ventures to lead the funding round for Aspen Digital, the funds raised will be used to facilitate Aspen’s entry into the London Market.
Rothschild Investment Trust (RIT) Capital Partners, led by prominent British banker Jacob Rothschild, collaborated with Liberty City Ventures in New York to spearhead pre-A funding for Aspen Digital, a crypto asset investment platform.
The funding round raised $8.8 million, according to the official statement, to assist the Hong Kong-based startup to establish an institutional crypto investment platform aimed at asset managers, institutions, and professional investors.
According to Yang He, CEO and co-founder of Aspen Digital, the money will also facilitate the company’s entry into the London market.
Other notable investors, according to the statement, include Somerley Capital, Cherubic Ventures, Token Bay Capital, and Chatchaval Jiaravanon and Chaval Jiaravanon, Thailand’s richest family and owners of Fortune magazine.
Aspen Digital has stated that the platform will be launched by the end of the year in order to target emerging markets in Europe, Asia, and the Middle East. The corporation intends to take the lead in this endeavour by opening offices in London and Singapore.
Yang He, citing the growing demand for a single gateway to handle all crypto holdings, stated:
“To have the oldest wealth management family in the world putting trust in us as a platform solution for the new world of crypto investment is a great validation.”
Aspen’s new platform aims to centralize important crypto offerings from market players such as Celsius Network, Hex Trust, and FTX, in addition to its existing services like client portfolio reporting, risk management, market data, and custody solutions.
Rothschild’s RIT invested $5.3 billion in the Kraken cryptocurrency exchange just three months ago. The move comes as Kraken plans to “go public through a direct listing in 2022,” according to Cointelegraph.
RIT was also a part of a $142 million fundraising round for Paxos, a stable coin issuer linked with PayPal, in December 2020.