This article comes fromThe Block, Originally by Frank Chaparro

Odaily Translator | Nian Yin Si Tang

This article comes from

, Originally by Frank Chaparro

Odaily Translator | Nian Yin Si Tang

Digital asset trading platform FalconX, one of several platforms looking to lure major investors into the cryptocurrency market, announced on Tuesday that it closed a $210 million Series C round of funding, catapulting it into the ranks of unicorns at a $3.75 billion valuation. Tiger Global, Alimeter Capital, B Capital, Sapphire Ventures, the venture capital arm of American Express, and Mirae Asset participated.It is reported that the company’s monthly sales have reached 10 billion U.S. dollars, and now it needs the necessary funds to help its customers adapt to the “24 X 7” non-stop market operations and explore new opportunities in the decentralized finance and stable currency industries.“Institutions are jumping in and trying to use bitcoin as an inflation hedge,” FalconX CEO Raghu Yarlagadda said in an interview with The Block, referring to the environment in which the company secured funding last spring. Since then, clients have gradually expanded their reach, Yarlagadda said.

Last May, FalconXAnnounced the completion of a $17 million Series A round of financing, Investors include Fidelity's Avon Ventures, Coinbase Ventures, Lightspeed, Flybridge, Accel, Fenbushi Capital and Accomplice.

At that time, FalconX stated that it would focus on providing real cryptocurrency price information accurate to the second level for institutional clients with an asset size of $10 million. Over the past 10 months, FalconX has executed $7 billion in transaction volume, a quarterly growth rate of more than 600%. It is reported that FalconX uses internal chain analysis tools and third-party tools to filter illegal transactions related to dark web or terrorist activities. Note: In June of the same year, TRM Labs, an encryption risk management platform supported by PayPal,

Announcing a partnership with FalconX

, providing real-time encrypted transaction monitoring for the FalconX exchange.

It is understood that FalconX focuses on trading, and has built strong liquidity by combining exchanges and self-operated dark pools. Its clients include more than 100 traditional financial institutions, including hedge funds, proprietary trading firms, payment gateways, OTC desks, cryptocurrency miners and exchanges. FalconX is expanding its regulatory reach, continuing to grow its client base by covering new jurisdictions and product lines.“They’re going deeper. There’s a renewed interest in ethereum ... there’s definitely a lot of questions around DeFi and yield generation,” he said.Yarlagadda told The Block in March that he expected large hedge funds of $500 million or more to make up 30% of his client base. FalconX now says it is moving toward that goal.

At that time, FalconX

Announced the completion of a $50 million Series B round of financing