Aspen Digital, a digital asset management platform, has raised $8.8 million in a pre-Series A funding round.

The Hong Kong-based firm is targeting institutional investors and aims to centralise different functions, such as cryptocurrency exchange FTX and portfolio management, into one platform.

Aspen said it will use the capital to make new hires and open new offices in London and Singapore later this year.

The round was led by Lord Rothschild backed investment firm RIT Capital Partners and New York based technology venture fund Liberty City Ventures.

Cherubic Ventures, Token Bay Capital, Somerley Capital, and members of Thailand’s richest family Chatchaval Jiaravanon and Chaval Jiaravanon also participated in the round.

The news comes as digital assets are increasingly being perceived as a viable investment choice; Financial Conduct Authority (FCA) research found that more than a third - 38 per cent - of cryptocurrency users regard it as a gamble, down from 47 per cent last year.

“The Aspen Digital platform is a turn-key solution for investment advisors to manage digital assets on behalf of their clients,” said Emil Woods, founding partner at Liberty City Ventures. “The launch is a major step in making this powerful and transformative asset class available to this especially significant investor base.”

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