Home News Paradigm crypto derivatives platform raised $35M

Paradigm crypto derivatives platform raised $35M


Paradigm, an over-the-counter (OTC) platform for institutional investors, has closed a Series A funding round for $35 million at a valuation of $400 million. Jump Capital and Alameda Ventures led the round.

Genesis Trading, Optiver US, QCP Capital, Nexo, IMC, GSR, Akuna Capital, Babel Finance, MGNR, Avon Ventures, CMT Digital, Dragonfly Capital, Digital Currency Group, Vectr Fintech Partners, Mirana Ventures also provided financing. As well as top managers from Goldentree Asset Management and Amber Group.

Thus, according to the firm, the trading volume on its platform has grown 14 times over the year. Reaching $10 billion in monthly terms. Moreover, the partner network has increased to 600 institutions.

Trading volume has grown 14 times over the year

“This funding round allows us to continue building out our network of institutional traders, CeFi (centralized finance) exchanges, and DeFi (decentralized finance) protocol”. Said Anand Gomes, co-founder of Paradigm.

Furthermore, the platform offers spread-oriented and combination-oriented quotation glasses, spread matrices for futures and interest rate curves for loans. Paradigm does not charge commissions and does not take assets for storage, linking the participants of the transaction directly.

Standardized workflow automation tools are available for customers to coordinate and implement complex strategies using a single atomic transaction.

Crypto.com to purchase two derivatives exchanges in US

Recall that previously in December, a global cryptocurrency exchange Crypto.com signed an agreement to purchase two derivatives exchanges in the United States from the financial company IG Group Holdings.

The US-regulated North American Derivatives Exchange (Nadex) and the Small Exchange are being purchased by Crypto.com for an estimated $216 million. Following regulatory clearance, the transaction should conclude in the first part of 2022.

Nadex and the Small Exchange, both situated in Chicago, provide derivative products to individual investors. While the Small Exchange is recognizable for its futures offerings, allowing Crypto.com to offer conventional instruments to its US consumers. The purpose, according to Kris Marszalek, co-founder and CEO of Crypto.com, is to provide clients with a reliable, safe; and regulated platform through which they may attain financial independence.

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