23 June 2020, Singapore – Sparrow, the main choices buying and selling platform has secured USD 3.5 million in Collection A funding to speed up platform improvement.
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’re actually happy that the spherical acquired robust assist regardless of the tough financial local weather brought on by COVID-19. The robust curiosity from traders 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 great place to deliver much more thrilling buying and selling merchandise to the market.”
Arthur Hayes, CEO of the HDR Group, stated, “We’re seeing vital progress within the digital asset choices area with numerous untapped alternatives. We’re excited by Sparrow’s progress potential, the staff behind it and are due to this fact proud to be main this Collection A spherical.”
Stefan Schuetze, Managing Director of FinLab EOS VC Fund, stated, “We’re excited to spend money on Sparrow, which is growing the following era of economic merchandise by leveraging EOSIO for his or her on-chain settlement layer.”
Kenneth added, “Since launching in June 2019, we have now seen unprecedented progress with over USD 150 million in choices buying and selling quantity. We’re pleased with how far we’ve come and stay up for introducing extra revolutionary merchandise to the crypto derivatives market.”
Sparrow | www.sparrowexchange.com is the main choices buying and selling platform, offering the best strategy to management danger and monetize your digital belongings.
Headquartered in Singapore, Sparrow provides BTC and ETH choices which can be settled by sensible contracts. Sparrow’s proprietary platform is accessible by way of a simplified interface, superior order guide, or buying and selling APIs.
About HDR Group
HDR Group is managed by Republic of Seychelles-incorporated HDR World Buying and selling Restricted, a monetary providers enterprise that operates the BitMEX crypto-products buying and selling platform. By means of BitMEX, HDR World provides 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 includes of each fairness and digital belongings within the blockchain area, with a various funding method starting from exchanges, infrastructure tasks to mining farms.
About Du Capital
Du Capital is a Singapore-based multi-stage funding agency backing firms 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 provides builders and entrepreneurs the funding they should create community-driven companies leveraging EOSIO. It makes direct investments and supplies assist to firms constructing on EOSIO software program by way of 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 likely one of the first and largest traders 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 improvement phases with their community and know-how. As well as, FinLab acts as an asset supervisor and manages belongings within the three-digit million vary.
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