23 June 2020, Singapore – Sparrow, the leading choices trading platform has actually protected USD 3.5 million in Series A funding to speed up platform advancement.
The round was led by the HDR Group, owner and operator of BitMEX, and supported by Signum Capital, Du Capital and FinLab EOS VC.
Kenneth Yeo, CEO of Sparrow stated, “We are actually delighted that the round got strong assistance regardless of the severe financial environment triggered by COVID-19. The strong interest from financiers verifies our view that digital possession choices will be the next high-growth market.”
“We want to thank our partners and users for their frustrating assistance. Volumes have actually tripled given that the start of the year. With this round of funding, we are in an excellent position to bring much more amazing trading items to the marketplace.”
Arthur Hayes, CEO of the HDR Group, stated, “We are seeing considerable development in the digital possession choices area with a great deal of untapped chances. We are thrilled by Sparrow’s development capacity, the group behind it and are for that reason happy to be leading this Series A round.”
Stefan Schuetze, Managing Director of FinLab EOS VC Fund, stated, “We are thrilled to invest in Sparrow, which is establishing the next generation of monetary items by leveraging EOSIO for their on-chain settlement layer.”
Kenneth included, “Since introducing in June 2019, we have actually seen unmatched development with over USD 150 million in choices trading volume. We take pride in how far we’ve come and anticipate presenting more ingenious items to the crypto derivatives market.”
Sparrow | www.sparrowexchange.com is the leading choices trading platform, supplying the most basic method to manage threat and monetize your digital possessions.
Headquartered in Singapore, Sparrow uses BTC and ETH choices that are settled by clever agreements. Sparrow’s exclusive platform is available through a streamlined user interface, advanced order book, or trading APIs.
About HDR Group
HDR Group is managed by Republic of Seychelles-included HDR Global Trading Limited, a monetary services organisation that runs the BitMEX crypto-products trading platform. Through BitMEX, HDR Global uses a finest-in-class trading user interface and suite of monetary items, consisting of bitcoin futures agreements and continuous swaps.
About Signum Capital
Signum Capital is a financial investment company based out of Singapore. Signum’s portfolio consists of both equity and digital possessions in the blockchain area, with a varied financial investment method varying from exchanges, facilities jobs to mining farms.
About Du Capital
Du Capital is a Singapore-based multi-stage financial investment company support business and business owners that endeavor in ingenious innovations such as the dispersed journal innovations (DLT).
About Block.one and EOS VC
Block.one’s EOS VC program uses designers and business owners the funding they require to produce community-driven companies leveraging EOSIO. It makes direct financial investments and offers assistance to business developing on EOSIO software application through its equity capital collaboration funds. For additional info, please go to Block.one and vc.eos.io.
About FinLab AG
The noted FinLab AG (WKN 121806 / ISIN DE0001218063 / ticker sign: A7A) is among the very first and biggest financiers in monetary services innovations (“fintech”) and blockchain in Europe. FinLab concentrates on supplying equity capital to start-ups. It makes every effort to actively and in the long-lasting assistance its financial investments. In doing so, FinLab supports its financial investments in their particular advancement stages with their network and knowledge. In addition, FinLab functions as a possession supervisor and handles possessions in the three-digit million variety.
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