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Wintermute raises $2.8 million in series A funding for crypto markets

Wintermute, a crypto market maker, has secured $2.8 million in a series A funding round to further its expansion into new liquidity products.

The company, which launched in 2017 and creates liquid and efficient markets for leading crypto exchanges and trading platforms, has the goal of being the ‘invisible hand’ of the market. Wintermute’s proprietary tech stack focuses on high frequency trading, algorithmic trading and market making from traditional financial markets.

“We made a deliberate decision to be a technology company, not a financial services one, and it’s our tech-first approach that enables us to develop liquidity solutions that will drive the growth of the overall market in both the near and long-term,” said Evgeny Gaevoy, founder and CEO of Wintermute.

The funding round was led by Lightspeed Venture Partners and is the second round received this year. February saw funding received by Blockchain.com Ventures, a long-term business partner of Wintermute.

“The growing number of crypto exchanges is leading to an increased need for market making, and that is where Wintermute comes in,” said Jeremy Liew, partner at Lightspeed Venture Partners. “With its strategic, tech-first approach, Wintermute is making it easier for retail and institutional investors to buy and sell crypto.”

Last month, W3BCLOUD, a provider in the blockchain data centre space, raised $20.5 million as part of a joint venture from ConsenSys and AMD (Advanced Micro Devices).

Interested in hearing more in person? Find out more at the Blockchain Expo World Series, Global, Europe and North America.  

The post Wintermute raises $2.8 million in series A funding for crypto markets appeared first on The Block.

Read the original post: Wintermute raises .8 million in series A funding for crypto markets

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