SoSoValue Secures $15M, Reaches $200M Valuation with New Crypto Index Platform

Singapore-based SoSoValue, a leading crypto market data provider, has achieved a significant milestone. The company recently closed a $15 million Series A funding round, propelling its valuation to a staggering $200 million. This impressive feat underscores the growing demand for user-friendly crypto investment tools.

The funding round, co-led by venture capital giants HongShan (formerly Sequoia China) and SmallSpark.ai, signifies investor confidence in SoSoValue's vision. Participation from Mirana Ventures and SafePal further bolsters the company's position in the burgeoning crypto market.

SoSoValue, best known for its comprehensive ETF data tracking daily inflows and outflows, is taking its offerings a step further. The company is now venturing into the realm of tradable crypto indices. This innovative approach aims to simplify crypto investment for both seasoned traders and newcomers alike.

SoSoValue's newly launched "SoSoValue Indices (SSI)" protocol introduces four distinct wrapped tokens:

• MAG7.SSI (Magnificent 7): Tracks the top seven cryptocurrencies by market cap, ensuring a diversified exposure.
• MEME.SSI: Offers access to the top ten meme tokens, catering to investors interested in this dynamic market segment.
• DEFI.SSI: Provides a basket of ten DeFi (Decentralized Finance) assets, allowing for targeted investment in this rapidly evolving space.
• USSI: This delta-neutral basket grants exposure to leading crypto assets while aiming for stable returns.

These tokens offer several advantages:

• Simplified Trading: Unlike traditional indices that merely track performance, SoSoValue's wrapped tokens enable direct trading of the underlying crypto baskets.
• Automatic Rebalancing: The tokens automatically rebalance monthly, ensuring they stay aligned with the ever-changing crypto landscape.
• Security and Transparency: SoSoValue utilizes licensed custodians (Cobo and Ceffu) to safeguard the underlying assets, fostering user trust.
• Accessibility: By connecting their web3 wallets, users can effortlessly trade these tokens on the SoSoValue platform.

SoSoValue emphasizes its commitment to inclusivity. The company aims to remove barriers to entry, making crypto information and services more accessible to a broader audience. As May Wang, SoSoValue co-founder, emphasizes, "We are in this for the long haul and want to build adoption for all crypto assets."

Looking ahead, SoSoValue plans to expand its workforce by 50%, focusing on key areas like marketing, engineering, and business development. The company also intends to introduce additional index tokens, further enriching its offerings.