Samson Mow, Charlie Lee, Wei Zhou, and Kain Warwick played their role in raising funds for Monochrome. During a fundraising campaign, an Australian digital fund management company raised $1.8 million in fundraisings. Some of the most influential crypto entrepreneurs have played their role in the whole process.
The series -A was co-organized by some of the industry’s renowned names. Some of the names are given as follows: Charlie Lee, the founder of Litecoin, Samson Mow, former Binance CFO Wei Zhou, and Kain Warwick. The Australian digital fund manager business Monochrome said that the amount being raised would be used in products specializing such as Bitcoin and other digital assets.
Monochrome was initiated earlier this year with the efforts being made by Jeff Yew, the previous chief executive of Binance Australia, to offer an institutional onramp to cryptocurrency investing. The agency is possibly best acknowledged for its Monochrome Bitcoin Fund, a capital growth car for wholesale investors.
Monochrome is one of the country’s renowned firms. The company has revolutionized the concept of the bitcoin market.
Australia is also like the world’s other developed countries Australia’s regulations regarding crypto are still in the initial phase of development. However, the country does not treat bitcoin as money. Moreover, the trading of digital currency is legal in Australia. However, the country has strictly prohibited the use of digital currencies in money laundering. Any involvement in money laundering is heavily punishable.
Like all other digital assets management funds, Monochrome is also bringing in institutional investment within the market. The company does believe that institutional investment is secured with fewer chances of being involved in money laundering.
The fact of the matter is that Bitcoin demand has grown among institutional investors. As the result, the massive inflow is being recorded on Grayscale and CoinShares products. Institutional investors are investing in the crypto world. Moreover, more and more people are coming to play in the league. This is not the first time when institutional have shown their interest in bitcoin.
Recently international payment service companies Visa, Master, and others have also explored institutional investment. Australia’s crypto industry is now on the boom. The involvement of the institutional investors getting strong and strong, and it seems that Australians have decided how to cope with the uncertainty.
Australian crypto community has welcomed this news. The legal experts in Australia said that one of the biggest reasons that the Australian government has crypto-friendly policies is due to the increased involvement of institutions in crypto landscape.