SYDNEY & NEW YORK--(BUSINESS WIRE)--Mercari, which operates a Tier 1 wholesale Australian financial exchange for the trading of derivatives, announced today the closing of a fundraising round to enable it to further expand its current activities and, additionally, to develop new institutional product solutions, including crypto-assets. Investors in the round include Digital Currency Group, an established leader and investor in the crypto and blockchain asset class; MCR Unlimited, a private investment group with expertise in innovative financial platforms, products and services; 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 is 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 the Mercari DAR Crypto Reference Rates priced in Australian dollars (AUD) and are first local and robust AUD crypto asset benchmarks for the Australia 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 their passion and systematic approach to developing cryptocurrency and blockchain technology and their emphasis on a long term vision for the industry. We are very much looking forward to developing our markets with their guidance and support,” said Brian Price, director of Mercari.
“DCG plans to support and work in partnership with Mercari to expand its product offering as a licensed derivative exchange. We are passionate about the Asia-Pacific region and this dynamic sector, and are confident that our investment in Mercari will ensure we continue to play a leading role in financing growth and innovation in the space,” said Rumi Morales, head of venture and growth investing at Digital Currency Group.
“My partners and I are delighted to participate in this round,” said Chris Morris, Chairman of MCR Unlimited. “We have a long history of delivering innovation and new technologies to financial markets in Australia and around the world. 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.
Mercari is licensed in Australia to operate a Tier 1 wholesale financial derivatives market exchange (“AML”) under Section 791A of the Australian Corporations Act. Mercari also holds an Australian Financial Services Licence (“AFSL”) #229935.
About Digital Currency Group
Founded in 2015 by CEO Barry Silbert, DCG is the most active investor in the blockchain sector, with a mission to accelerate the development of a better financial system through the proliferation of digital assets and blockchain technology. Today, DCG sits at the epicenter of the industry, backing more than 200 blockchain-related companies in over 35 countries. DCG also invests directly in digital currencies and other digital assets. In addition to its investment portfolio, DCG is the parent company of Genesis (a global digital asset prime brokerage), Grayscale Investments (the world’s largest digital currency asset manager), CoinDesk (a leading financial media, data, and information company), Foundry (a leader in bitcoin mining and staking), Luno (a leading cryptocurrency platform with a large international footprint), and TradeBlock (an institutional trading platform). More information is available at dcg.co
About MCR Unlimited, LLC
MCR Unlimited is a private investment company co-founded by Computershare founder Chis Morris and partners. The partners’ deep experience in global markets and financial market platforms, products and services uniquely positions MCR to invest in and add value, especially to innovative financial services technology companies.
More information is available at www.mcrunlimited.com
About DCA Global Derivatives Management
DCA - Global Derivatives Management is a financial service provider, specializing in the development and deployment of secure cloud-based applications, automation, and regulatory services that allow institutional users of listed derivatives to vertically integrate. Established in 1998 DCA - Global Derivatives Management is a CFTC registrant, holds an Australian Financial Services License, and is a participant in the Australian Cyber Security Partner Program.
NFA ID # 0399050
AFSL # 243662
LEI # 529900N6RAVH6127T717
About Monochrome Asset Management
With his prior experience as the founder and former CEO of Australia's most liquid digital asset exchange, Jeff Yew founded Monochrome Asset Management to further the access and adoption of digital assets for institutions in Australia and abroad. Jeff leads a team of over 150 years of combined experience in financial markets, funds management, and digital asset investments at Monochrome.