Co-founder of SFOX Airbnb helped to raise $23 million on the platform for institutional investors
Leading dealer of cryptocurrencies for institutional investors and large traders SFOX announced in its press release that has closed a round of financing series A $22.7 million Means will go on creation of the cryptocurrency platforms institutional level.
According to a press release, the round was headed by the company’s Social Capital and Trading Capital, it also participated SV Angel, DCG, co-founder of Airbnb Nathan Blecharczyk, Marko Britto, Khosla Ventures and others.
Arjun Network, co-founder and partner at Tribe Capital, which must also join the management Board of the company SFOX, noted that institutional investors are increasingly showing a desire to enter that market, but they are stopped by some obstacles:
We continue to see steadily growing demand from financial institutions who want to incorporate cryptocurrencies in their diversified portfolios, but are reluctant to do this because of the uncertainty of regulation and the volatility of such assets.
The network also noted that the new platform SFOX will be able to provide institutional investors instruments, which they are lacking
Agencies need a full-fledged platform for asset management that takes into account features of cryptocurrency. Traditional tools and existing platforms such requirements do not meet. That’s why we want to provide this service, and investments will allow us to continue this evolution.
Other well-known companies are also working on solutions that would provide cryptocurrency investors with security at the entrance to the cryptocurrency market. This month, the ICE company, owner of the new York stock exchange, announced the upcoming launch of cryptocurrency assets called Bakkt, which, according to experts, institutions will open the way to the stock market.
Goldman Sachs also intends to manage bitcoin investments to their clients. It is expected to offer large investors a reliable decision.