23 June 2020, Singapore – Sparrow, the main choices buying and selling platform has secured USD 3.5 million in Series A funding to speed up platform growth.
The spherical was led by the HDR Group, proprietor and operator of BitMEX, and supported by Signum Capital, Du Capital and FinLab EOS VC.
Kenneth Yeo, CEO of Sparrow stated, “We are actually happy that the spherical obtained sturdy assist regardless of the cruel financial local weather brought on by COVID-19. The sturdy curiosity from buyers validates our view that digital asset choices would be the subsequent high-growth market.”
“We want to thank our companions and customers for his or her overwhelming assist. Volumes have tripled for the reason that begin of the yr. With this spherical of funding, we’re in a superb place to convey much more thrilling buying and selling merchandise to the market.”
Arthur Hayes, CEO of the HDR Group, stated, “We are seeing vital progress within the digital asset choices area with lots of untapped alternatives. We are excited by Sparrow’s progress potential, the workforce behind it and are subsequently proud to be main this Series A spherical.”
Stefan Schuetze, Managing Director of FinLab EOS VC Fund, stated, “We are excited to spend money on Sparrow, which is creating the subsequent era of economic merchandise by leveraging EOSIO for his or her on-chain settlement layer.”
Kenneth added, “Since launching in June 2019, now we have seen unprecedented progress with over USD 150 million in choices buying and selling quantity. We are happy with how far we’ve come and look ahead to introducing extra revolutionary merchandise to the crypto derivatives market.”
Sparrow | www.sparrowexchange.com is the main choices buying and selling platform, offering the only strategy to management danger and monetize your digital property.
Headquartered in Singapore, Sparrow presents BTC and ETH choices which can be settled by good contracts. Sparrow’s proprietary platform is accessible by a simplified interface, superior order guide, or buying and selling APIs.
About HDR Group
HDR Group is managed by Republic of Seychelles-incorporated HDR Global Trading Limited, a monetary providers enterprise that operates the BitMEX crypto-products buying and selling platform. Through BitMEX, HDR Global presents a best-in-class buying and selling interface and suite of economic merchandise, together with bitcoin futures contracts and perpetual swaps.
About Signum Capital
Signum Capital is an funding agency primarily based out of Singapore. Signum’s portfolio contains of each fairness and digital property within the blockchain area, with a various funding strategy starting from exchanges, infrastructure initiatives to mining farms.
About Du Capital
Du Capital is a Singapore-based multi-stage funding agency backing corporations and entrepreneurs that enterprise in revolutionary applied sciences such because the distributed ledger applied sciences (DLT).
About Block.one and EOS VC
Block.one’s EOS VC program presents builders and entrepreneurs the funding they should create community-driven companies leveraging EOSIO. It makes direct investments and supplies assist to corporations constructing on EOSIO software program by its enterprise capital partnership funds. For additional info, please go to Block.one and vc.eos.io.
About FinLab AG
The listed FinLab AG (WKN 121806 / ISIN DE0001218063 / ticker image: A7A) is without doubt one of the first and largest buyers in monetary providers applied sciences (“fintech”) and blockchain in Europe. FinLab focuses on offering enterprise capital to start-ups. It strives to actively and within the long-term assist its investments. In doing so, FinLab helps its investments of their respective growth phases with their community and know-how. In addition, FinLab acts as an asset supervisor and manages property within the three-digit million vary.
Contact Email Address
This is a press launch. Readers ought to do their very own due diligence earlier than taking any actions associated to the promoted firm or any of its associates or providers. Bitcoin.com will not be accountable, immediately or not directly, for any injury or loss precipitated or alleged to be brought on by or in reference to the usage of or reliance on any content material, items or providers talked about within the press launch.
The publish Sparrow Raises USD 3.5 Mil in Series a Funding appeared first on Bitcoin News.