Altonomy, an online trading platform for cryptocurrency assets, has bagged $7m in a seed financing round.
The capital injection was led by Polychain Capital, an investor focused on crypto companies, and 7 Blocks, a Singapore-based investment fund.
Founded last year, the company has built institution-grade trading and liquidity provision services for investors, exchanges and token projects for global venues. Its trading infrastructure connects more than 60 cryptocurrency exchanges and OTC partners, which it uses to trade over 250 cryptocurrencies, it said.
The company, which is headquartered in Singapore, supports transaction services of crypto-to-fiat and crypto-to-crypto, and also helps token issuers meet requirements for public listing and liquidity management.
Polychain Capital founder and CEO Olaf Carlson-Wee said, “As a long-time user of Altonomy’s trading services, it was an easy decision for us to invest in their business when the opportunity became available.
“Altonomy provides much needed intelligent trade execution as well as other institutional-grade financial services to the crypto market for a wide variety of verticals. Combining this with exceptional management and a global footprint across the U.S. and Asia, Altonomy is well-positioned for further success.”
The trading platform recently expanding its product suite with the launch of AltMiner. It is a cloud mining product tailored specifically to institutions which seek large mining exposure.
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