100x Ventures Invests $1.5M in Vietnamese VCC Exchange
Crypto Guide
Live News

Keeping up with all the cryptocurrency news and updates is not an easy task, but we are up to the challenge! This way we can help our readers to keep track of changes in these fast growing currencies. Just like our site, lambo2btc.com is willing to face this challenge and on their site, they compile the features, key elements, and recent news involving bitcoin casino sites and which are the best to try!

100x Ventures Invests $1.5M in Vietnamese VCC Exchange

August 19, 2020      Vandana Malik

100x Ventures, an investment arm of BitMEX’s operator, 100x Group, has recently made an investment in VCC Exchange. The firm has invested $1.5 million in VCC Exchange, which is a Vietnamese fiat-to-crypto trading platform. This exchange has revealed this officially on its website through a blog post. 

According to the exchange, this investment will help in marketing activities and product development. VCC will soon launch a P2P trading platform along with a futures trading platform as well.

100x Ventures investment will take VCC at the leadership position

The announcement revealed that this investment by 100x Ventures would help the exchange to take a leadership position in the market. Along with its trading platform, the exchange might also offer the integration of both Credit and Debit cards. 

The exchange is expecting that with the launch of these trading platforms, the average daily trading volume of the exchange will grow by 500% in the coming years. Back in December 2019, VCC Exchange also launched a crypto trading platform which is supporting Dong, the fiat currency of Vietnam. 

Arthur Hayes believes Vietnamese crypto market to grow

Arthur Hayes, co-founder, and CEO of BitMEX are seeing the huge potential in the Vietnamese crypto market. He believes that in the long run, the Vietnamese crypto market will surely grow. He has also mentioned that in this growth, VCC Exchange is going to play quite an important role. The VND-to-crypto trading that the exchange offers makes it to count among the best and the most popular crypto and fiat exchange of the country. 

The exchange has also stated that they have chosen 100x Ventures because they are aiming towards learning a lot of things from the operational experience of the firm. VCC has also raised some amount from a recent seed funding round which was led by Signum Capital. However, the exchange has not yet disclosed the amount raised from the funding round.

Articles You May Read

READ  Sparrow Raises $3.5 Million in Series A Funding Round
#100x Ventures #Arthur Hayes #Average daily trading volume #Invests $1.5M #Leadership position #P2P trading platform #VCC Exchange
Vandana Malik
Vandana Malik

Vandana has received Master of Arts degree in English from GEU Dehradun. She is currently working as a content writer with Agio Support Solutions and earlier worked as a sub-news editor at Business News and Information Services Private Limited. She is an enthusiastic content writer and aims to bring a compelling yet informative content to the audience. Meanwhile, enhancing her own knowledge in the cryptocurrency and blockchain industry.