Paradigm, an OTC institutional investor platform, has completed a $35 million Series A funding round with a $400 million valuation led by Jump Trading and Alameda Research.
In the funding round have also participated Genesis Trading, QCP Capital, Nexo, Optiver US, IMC, GSR, Akuna Capital, Babel Finance, MGNR, Avon Ventures, CMT Digital, Dragonfly Capital, Digital Currency Group, Vectr Fintech Partners, Mirana Ventures, as well as top managers from Goldentree Asset Management and Amber Group.
The company claims the trading volume on its platform has grown 14-fold over the year, reaching $10 billion per month. The partner network has grown to 600 institutions.
Anand Gomes, co-founder and CEO of Paradigm, said:
“The funds received will allow us to expand our product line and network of partners in the form of institutional traders, Bitcoin exchanges and DeFi-protocols.”
The platform offers spread and combination oriented order books, spread matrices for futures and interest rate curves for loans.
Paradigm does not charge fees and does not take assets for safekeeping, linking the parties to the transaction directly.
We should remember that crypto platform Crypto.com is purchasing two derivatives exchanges in the United States from financial company IG Group Holdings.