Blockchain.com Leads Investment In Its Trading Partner ‘ Seven-Figure ‘

Popular cryptocurrency wallet service and blockchain data provider Blockchain.com in its trading partner Wintermute Trading has led a funding round.

Wintermute Trading, an algorithmic trading company based in the United Kingdom. Has completed a seed funding round led by investment arm Blockchain.com Ventures.

While the funding sum is confidential, the seed round apparently involved a “seven-figure” investment, a spokesperson for Blockchain.com told Feb. 10. Furthermore, participation from the blockchain-focused capital market FBG has also been seen in the funding round.

Since July 2019 Wintermute has been a partner at Blockchain.com

The investment comes after a collaboration between Blockchain.com and Wintermute to launch their proprietary crypto exchange in July 2019. Peter Smith, CEO, and co-founder at Blockchain.com clarified that Wintermute was contributing to pricing and execution resources to the Blockchain.com exchange.

Smith said in an email that when they launched the network last July. Wintermute was part of the Blockchain.com Exchange’s large global community of market makers and continues to act in that capacity. They help them ensure fair pricing and efficient execution for traders of all sizes around the world.

Blockchain.com’s CEO also clarified that Wintermute’s technology is 100% proprietary. Adding that algorithmic and high-frequency trading experts have built their software. They respect the intricacies of the market structure and have a developer-first attitude when it comes to coping with the biggest trade challenges, Smith said.

Samuel Harrison, managing partner at Blockchain.com Ventures, will join the company’s board of directors as part of its investment in Wintermute.

The partners include Binance, Coinbase, and Kraken

Wintermute aims to further develop its technology with the newly raised funds and to continue building liquid and competitive crypto markets. A group of veterans from Optiver, a major Dutch trading company, and market maker, founded Wintermute with headquarters in London. Wintermute was also a partner in big crypto exchanges including Binance, Coinbase, and Kraken, according to the announcement.

The news comes after a fiat portal for the Turkish lira was introduced by Blockchain.com on Jan. 30, enabling its users to purchase Bitcoin (BTC), Ether (ETH) and Tether (USDT) with the fiat money. Blockchain.com Exchange, which was introduced in July last year, currently supports four fiat currencies such as the US dollar, British pound, euro and lira.

Source: cointelegraph.com

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