RIT Capital Partners has co-led an $8.8 million funding round for Aspen Digital with Liberty City Ventures, according to an announcement Wednesday.
Aspen digital vows to develop the leading solution to serve the surging institutional crypto investment demand. Other investors include Cherubic Ventures, Token Bay Capital, Somerley Capital, and Chatchaval Jiaravanon & Chaval Jiaravanon.
The firm will use the new funds to expand the core team and establish new offices in major financial hubs. In addition to its current Hong Kong office, a second headquarter in London will be added this year to serve clients in Europe and the Middle East. Aspen Digital also plans to establish a Singapore office to target the Southeast Asia market.
“We are thrilled to be launching our platform internationally later this year to empower asset managers around the world to better serve their clients in the new digital asset market with confidence,” Yang He, co-founder and CEO of Aspen Digital, said.
“The Aspen Digital platform is a turn-key solution for investment advisors to manage digital assets on behalf of their clients,” Emil Woods, founding partner of Liberty City Ventures, added. “The launch is a major step in making this powerful and transformative asset class available to this especially significant investor base.”
Aspen Digital hopes to tap into the professional investor market, targeting asset managers and investment institutions.