Cabital
The business, the turning points, and the decisions behind them.
Some sections are still being researched2 / 4
Sections to complete：02 · 05
01 / WHAT IT BUILT
What the company did
Cabital was a digital financial institution founded in 2020 by Raymond Hsu (formerly of Airwallex and Citibank), registered in Lithuania as a cryptocurrency exchange and wallet operator. It let users buy, sell and hold cryptocurrencies, offered Cabital Earn - a crypto wealth management product generating up to 12% APY - and sold Cabital Connect, a fiat on-ramp/off-ramp gateway for crypto and Web3 businesses that was integrated by exchanges including Bybit and Gate.io. It raised $3 million in an angel round followed by a $4 million seed round (total about $7 million) led by SIG, Dragonfly Capital and GSR Ventures at a $40 million valuation.
02 / FAILURE REASONS
Material for this section is being gathered and checked. It will appear here once ready.
03 / EVENT HISTORY
Events in the structured record
- Liquidation
Lithuanian Register Center data republished by Lursoft lists Cabital Fintech (LT) UAB (code 305748659, registered 3 May 2021) as Under Liquidation from 8 Jan 2025. Cabital publicly described this Lithuania entity as its licensed crypto exchange/depository-wallet operator alongside Singapore affiliates.
04 / CONTEMPORARY REBUILD ASSESSMENT
Difficulty of rebuilding this project today
Material for this section is being gathered and checked. It will appear here once ready.
Overall assessment: Not completed
05 / CAUSAL CHAIN / AFTERMATH
Material for this section is being gathered and checked. It will appear here once ready.