Trading platform for digital assets Efficient Frontier has nabbed $2m in funding from Alameda Research.
The FinTech’s goal is to become the world’s leading algorithmic trading firm and liquidity provider in the crypto space, whilst maintaining transparency.
Founded in 2017, the company provides liquidity to more than 45 cryptocurrency exchanges. It claims its volumes approached more than $10bn a month by the end of 2020.
Efficient Frontier CEO Roei Levav said, “Last year has been very significant both for the industry and our growth. With our trading volume growing hundreds of percent over 2020 we hope to continue to grow at the same pace in 2021 in our journey towards becoming one of the largest trading firms in the space.”
There have been a number of cryptocurrency-focused companies to raise funding round this year already. Most notably is BlockFi, which hit a $3bn valuation after closing a $350m funding round last week.
The company’s goal is to bridge the gap between cryptos and traditional wealth management services.
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