Mercari, which operates a Tier 1 wholesale Australian financial exchange for the trading of derivatives, announced the closing of a fundraising round to enable it to further expand its current activities and, to develop new institutional product solutions, including crypto-assets.
Investors in the round include Digital Currency Group, an established investor in the crypto; MCR Unlimited, a private investment group with expertise in innovative financial platforms; Jeff Yew, the founder and CEO of Monochrome Asset Management and former CEO of Binance Australia; DCA Global Derivatives management; and Dragon Tree Capital Australia.
Mercari focused on derivative financial markets
Mercari is fully focused on the development of regulated derivative financial markets, and has been licensed since 2005 as an exchange market operator.
Mercari announced on January 27, 2022, the launch of Mercari DAR Crypto Reference Rates priced in AUD and are first local crypto asset benchmarks for the Aussie and Asia markets.
“We are pleased to be recognized by an outstanding group of partners as a leading regulated derivatives marketplace. Our investors are in a category of their own in terms of passion and systematic approach to developing cryptocurrency and blockchain technology and their emphasis on a long term vision for the industry,” said Brian Price, director of Mercari.
“We are looking forward to developing our markets with their guidance and support.”
“DCG will work with Mercari to expand its product offering as a licensed derivative exchange,” said Rumi Morales, head of venture and growth investing at Digital Currency Group.
“We are passionate about APAC and this dynamic sector, and are confident that our investment in Mercari will ensure we continue to play a leading role in financing growth.”
Mercari’s market expertise yields
“My partners and I are delighted to participate in this round. We have a long history of delivering innovation and new technologies to financial markets in Australia and around the world,” said Chris Morris, Chairman of MCR Unlimited.
“The timing is ideal for Mercari to launch its regulated cryptocurrency products.”
Jeff Yew, Founder and CEO of Monochrome Asset Management, said “we are excited to partner with Mercari as it enters the digital currency space. We expect to be both investors and customers of the company as it builds an innovative, robust, regulated marketplace.”