{"id":9733,"date":"2021-09-12T21:15:38","date_gmt":"2021-09-12T20:15:38","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=9733"},"modified":"2021-09-12T21:15:48","modified_gmt":"2021-09-12T20:15:48","slug":"monochrome-valued-at-15m-following-series-a-financing","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/monochrome-valued-at-15m-following-series-a-financing\/","title":{"rendered":"Monochrome valued at $15M following Series A financing"},"content":{"rendered":"\n
The Monochrome<\/a> private sale, which concluded last week, was primarily funded by Samson Mow, Charlie Lee, Wei Zhou, and Kain Warwick.<\/h5>\n\n\n\n
\"Monochrome<\/figure>\n\n\n\n

Monochrome\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>, an Australian digital asset manager, has raised $1.8 million in a Series A round led by some of the cryptocurrency industry's most powerful entrepreneurs, demonstrating the growing potential of institutional-grade crypto-asset solutions.<\/p>\n\n\n\n

Monochrome said the funding will be used to develop new products focused on Bitcoin (BTC) and other digital assets. <\/p>\n\n\n\n

Litecoin<\/a> creator Charlie Lee, Blockstream Chief Strategy Officer Samson Mow, former Binance Chief Financial Officer Wei Zhou, and Kain Warwick, founder of Blueshyft and DeFi protocol Synthetix, co-led the Series A. <\/p>\n\n\n\n

Monochrome's total valuation was estimated to be around $15 million following the funding round.<\/p>\n\n\n\n

Monochrome was founded earlier this year by Jeff Yew, the former CEO of Binance<\/a> Australia, with the goal of providing institutional investors with access to cryptocurrency investing. <\/p>\n\n\n\n

Perhaps the most well-known product of the company is the Monochrome Bitcoin Fund, a capital growth vehicle for institutional investors. The fund will invest nearly entirely in physical Bitcoin, which will be held by United States trust company BitGo<\/a> Trust.<\/p>\n\n\n\n

Wei Zhou described Monochrome as Australia's “leading investment firm specialising in regulated access to digital assets,” highlighting the country's “progressive regulatory approach” to cryptocurrency.<\/p>\n\n\n\n

Australia's cryptocurrency regulations, like those in other advanced industrialised countries, are in their infancy. <\/p>\n\n\n\n

While the country does not recognise cryptocurrency as money, digital asset trading is legal and regulated by the country's anti-money laundering and counter-terrorism financing laws. <\/p>\n\n\n\n

As Cointelegraph previously reported, Australia's financial regulator recently warned citizens against engaging in cryptocurrency transactions with unregistered businesses.<\/p>\n\n\n\n

Monochrome, like other crypto-focused asset managers, is looking to attract institutional investors to the digital asset economy. <\/p>\n\n\n\n

Demand for cryptocurrency appears to be increasing among institutional investors, as evidenced by the significant inflows into Grayscale<\/a> and CoinShares products, among others. <\/p>\n\n\n\n

Additionally, institutional investors' surveys indicate that a sizable portion of wealth managers intend to purchase crypto assets or increase their exposure to the assets.<\/p>\n\n\n\n

Given the longevity of Bitcoin<\/a>, more investors are likely to seek exposure to digital assets in pursuit of broader macroeconomic objectives. <\/p>\n\n\n\n

Financial advisers could lead the charge, particularly now that crypto investing has been significantly de-risked in terms of career reputation.<\/p>\n","protected":false},"excerpt":{"rendered":"

The Monochrome private sale, which concluded last week, was primarily funded by Samson Mow, Charlie Lee, Wei Zhou, and Kain Warwick. Monochrome , an Australian digital asset manager, has raised $1.8 million in a Series A round led by some of the cryptocurrency industry’s most powerful entrepreneurs, demonstrating the growing potential of institutional-grade crypto-asset solutions. […]<\/p>\n","protected":false},"author":13,"featured_media":9734,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[326,163,4358],"class_list":["post-9733","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-binance","tag-litecoin","tag-monochrome"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/09\/image-114.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/9733","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=9733"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/9733\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/9734"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=9733"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=9733"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=9733"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}