The banking industry veteran raise $1 million 500 thousand to set up a digital asset start-ups
Digital asset trading service CryptoFacilities announced the start of a $1 million 500 thousand seed round of financing, by PamirGelenbe AngelList led.
Crypto had already obtained the UK financial conduct authority (FCA, FinancialConductAuthority) issued a license, and plans to extend and expand the product line of labor for investment, development of encryption currency, in close cooperation with the United States regulators.
The company founder TimoSchlaefer CEO said:
“In fact, we are by adding new products, assets, derivatives, expand the company’s platform. To provide people with more tools. Bitcoin’s future development path is relatively narrow, we hope to expand”.
Schlaefer said the time of the next 6 to 9 months, the company plans to hire a number of new employees, mainly developers.
The company is the designated representative of MetFacilitiesLLP, FCA authorization, under their supervision, but the service does not include American consumers. The company plans to be part of the investment for the United States and European regulators to build cooperation.
Last year, Goldman Sachs and French bank of Paris (GoldmanSachs and BNPParibas) veteran jointly established the company in the industry, and the rapid rise. February and Gerbaud (Ripple) with the development of XRP derivatives, the end of the month will be listed. The company also with the Chicago derivatives market of the Chicago Mercantile Exchange (CMEGroup) communication, making two bitcoin price benchmark, risk management help bitcoin investment. CME is currently valued at $36 billion.
It is working with CME as well as for individual customers, investment banks and hedge funds of $150 million bitcoin derivatives, attracted the lead cast PamirGelenbe; after he was involved in the investment of digital currency exchange Kraken.
The lack of resources but outstanding achievements
Gelenbe will come to the AngelList more than 10 supporters, led the investment, he pointed out that Crypto achieved so much success in the external investment in rare circumstances, he was attracted investment.
But the final contrast so he decided to invest in startups is the key to the founder of the passion and bitcoin derivatives market and traditional derivatives market.
“In any mature market for derivatives, derivatives can not be compared with the traditional stock trading. However, bitcoin market is not the case, but the future may change”.
Gelenbe said, now institutional investors has been talking about bitcoin investment, because of the “storage and security problems”. But with the opportunity to continue to emerge, perhaps a turnaround.
“These people want to participate in derivatives trading, but do not want to hold these products”.
Behind this investment activity, startups slowly began to attract institutional investors attention. For example, bitcoin Exchange Traded Fund (ETFs) SolidX7 the beginning of the month on the NYSE listing (NewYorkStockExchange), (WinklevossBitcoinTrust) is also waiting for the U.S. Securities and Exchange Commission (SecuritiesExchangeCommission) approval.
Participate in the seed round of financing enterprises and individual investors as well as PlayfairCapital, StringVentures, LeeRobinson and DigitalCurrencyGroup hedge fund investors.