Midas Raises $45M to Launch Crypto Offerings, Expand Team

Midas Raises $45M to Launch Crypto Offerings, Expand Team

Turkish digital stock brokerage startup Midas has announced raising $45 million in Series A funding to launch cryptocurrency trading products. The round was led by Portage Ventures and joined by Spark Capital, International Finance Group, and Earlybird Digital East Fund. Midas plans to use the funds to expand its team and launch cryptocurrency trading and mutual fund offerings. The startup currently offers digital stock brokerage services to retail investors in Turkey. "The funds will be used to expand our team, launch cryptocurrency trading and mutual fund offerings," Midas said in a statement. "We believe that the future of investing is digital, and we are excited to be at the forefront of this revolution." The global cryptocurrency market has seen significant growth in recent years, with the total market capitalization of all cryptocurrencies surpassing $2 trillion in 2021. This growth has been driven by a number of factors, including the increasing adoption of cryptocurrencies by institutional investors and the development of new blockchain technologies. Midas is one of a number of startups that are looking to capitalize on the growing interest in cryptocurrencies. The company is betting that its retail-focused platform will appeal to investors who are looking for an easy and secure way to trade cryptocurrencies.