SynFutures has raised a series A funding round of $14 million led by Polychain Capital. The money would be used to develop the firm’s flagship derivatives exchange which is set to launch soon.
The funding round was joined by many high profile cryptocurrency and blockchain investors. Like Pantera Capital, Wintermute as well as Framework. With this round the company has raised more than $15.4 till date.
The exchange’s objective is to offer derivatives from all niches. Including cryptos, commodities as well as traditional equities. In traditional trading derivatives trading is bigger than spot, and this might become true in crypto as well. With such platforms launching in space.
The company believes itself to be a trendsetter in the space. The company aims to level the field with derivatives and futures trading options in the crypto space.
The CEO of the company Rachel Lin is a serial entrepreneur in the crypto space. She has also held very key executive places in a number of crypto and blockchain startups. So, there’s no denying that the company has a good team behind it.
Launching Amongst a Crowd
The SymFutures exchange is going to be an all access platform for derivatives. There are other players in the space as well like Converge Finance. However, their platforms are also not really ready for a roll out. Synthetic on the other hand is a big player in the market and is expected to be tough competition for SynFutures.
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