Coinbase, SoftBank Back $26M Funding for Brazilian Crypto Asset Manager Hashdex

Hashdex, a Brazilian crypto asset manager, has raised $26 million in investments.

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Venture capital firm Valor Capital Group led the funding, with SoftBank, Coinbase Ventures and other local investors also participating, Bloomberg reported Wednesday.
The Rio de Janeiro-based company, founded in 2018, has about 4 billion reais (almost $76 million) in assets under management.
“Investors are still getting to know crypto, and we see room to offer more products in Brazil,” Hashdex CEO and former Microsoft executive Marcelo Sampaio told Bloomberg.
Hashdex plans to expand beyond Brazil and boost its staff from 25 to as many as 100 by the end of this year.
The firm recently launched a crypto index fund, the Hashdex Nasdaq Crypto Index Fundo de Indice.

Also read: Stablecoins Like USDC See Growing Demand in Latin America: Bitso CEO

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