The Wintermute trading platform raised $ 20 million in a Series B funding round led by Lightspeed with Pantera Capital, Fidelity Avon Ventures, Sino Global Capital and others.
1/4 Wow! @Wintermute_t has grown nearly 25x in revenue since @lightspeedvp led their Series A in June, executing >> $ 1b / day in traded volume. We’re leading their B to support their ambitious plans going forward. I’m also thrilled to join the board. https://t.co/0lrapxN1fN
– Jeremy Liew, Partner at Lightspeed #BLM (@jeremysliew) January 20, 2021
Wintermute will use the raised funds to expand its activities in new areas and attract larger counterparties.
“As the size and complexity of cryptocurrency markets grows, and as decentralized exchanges become more directly connected to users, the industry will need liquidity providers who can develop in tandem and keep the markets efficient,” said Joey Krug, CIO at Pantera Capital.
The team has big growth plans for 2021. Wintermute tests targeting institutional investors RFQ platform, which plans to launch in the first quarter of the year.
With the launch of its own platform, the company plans to expand its physical presence in Asia and open its first international office in Singapore in the first quarter of 2021.
The trading platform interacts with 50 cryptocurrency exchanges. In December, Wintermute’s turnover was $ 30 billion, and in January the company plans to double the figure.
Recall that on December 18, the Maps.me startup raised $ 50 million to create a DeFi ecosystem.
Lending platform Vauld previously received $ 2 million from Pantera Capital and Coinbase.
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