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§ Private Profile · Toronto, Canada
VirgoCX is a technology company.
VirgoCX operates as a Canadian cryptocurrency exchange, providing a platform for users to buy and sell various digital assets, including Bitcoin and Ethereum. The company focuses on offering a secure, accessible, and cost-effective trading experience, characterized by competitive pricing and a commission-free model. Its platform is designed to simplify the process of engaging with the crypto market for a broad range of users.
The company was founded in 2018 by Adam Cai, who serves as CEO. Cai established VirgoCX with the insight that Canadian residents needed a reliable and user-friendly gateway to the burgeoning cryptocurrency ecosystem. This foundational vision aimed to address the complexities and perceived barriers often associated with digital asset trading.
VirgoCX primarily serves Canadian individuals seeking to participate in the cryptocurrency market. The company’s long-term vision is centered on fostering a trusted environment that makes cryptocurrency trading straightforward and affordable for its user base, continually enhancing accessibility and security for digital asset transactions across Canada.
VirgoCX has raised $8.0M across 1 funding round.
VirgoCX has raised $8.0M in total across 1 funding round.
VirgoCX has raised $8.0M in total across 1 funding round.
VirgoCX's investors include Andrew Tang, Draper Associates, How Link Investment, Molecular Group, OKX Ventures, Sora Ventures.
VirgoCX has raised $8.0M across 1 funding round. Most recently, it raised $8.0M Series A in May 2022.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| May 1, 2022 | $8M Series A | Andrew Tang | Draper Associates, HOW Link Investment, Molecular Group, OKX Ventures, Sora Ventures | Announced |
VirgoCX is a Toronto-based cryptocurrency trading platform founded in 2018, recognized as Canada's most trusted provider for secure, user-friendly, and affordable crypto trading.[1][2][3] It serves Canadian users by offering access to Bitcoin, Ethereum, Litecoin, and other cryptocurrencies, emphasizing global compliance, superior liquidity, advanced technology, and best-in-class security to accelerate adoption and streamline the trading experience.[1][3] With around 85-86 employees, $8 million in revenue, and $8 million in total funding from one round, VirgoCX solves key barriers to crypto entry—such as safety, cost, and ease—while maintaining strong employee satisfaction, with 86% rating it a great place to work.[1][3]
VirgoCX was founded in 2018 in Toronto, Ontario, amid rising global interest in cryptocurrencies, with a mission to make trading safe, easy, and affordable specifically for Canadians.[2][3] While specific founders are not detailed in available records, the company quickly positioned itself as a compliant platform adhering to global standards, building early traction through quality services and a focus on wealth storage innovation.[1] A pivotal moment came with its parent Virgo Group's acquisition of Arxnovum Investments, expanding into regulated crypto investment funds and broadening service scope for clients.[1]
VirgoCX rides the wave of cryptocurrency mainstreaming in Canada, capitalizing on regulatory clarity and growing demand for compliant digital assets amid global adoption trends.[1][2] Its timing aligns with post-2018 crypto maturation, where platforms emphasizing security and liquidity fill gaps left by international exchanges facing local restrictions. Market forces like Bitcoin and Ethereum's institutional interest, combined with Canada's fintech-friendly environment, favor VirgoCX's model, influencing the ecosystem by setting standards for trusted, localized trading and expanding into funds via acquisitions.[1]
VirgoCX is poised for growth through further integrations like its group's fund incubation, potentially capturing more retail and institutional crypto flows in Canada.[1] Trends such as regulatory evolution, DeFi expansion, and Web3 adoption will shape its path, amplifying influence via enhanced liquidity and compliance tools. As Canada's go-to platform, it could evolve into a full-suite crypto ecosystem player, solidifying its role in democratizing digital wealth storage.