Blockchain protocol Vega closes $5m investment

Vega, an end-to-end crypto trading and execution platform, has scored $5m in its latest funding round.

The round was led by Arrington Capital and Cumberland DRW, with commitments also coming from Coinbase Ventures, ParaFi Capital, Signum Capital, CMT Digital, CMS Holdings, Three Commas, GSR, SevenX Ventures and ZeePrime Capital.

Vega’s seed investors, Hashed, Eden Block, Greenfield One, KR1, gumi Cryptos Capital and Monday Capital, also joined the round.

The DeFi Alliance also joined as an investor, alongside a bunch of angel backers, including Aave CEO and founder Stani Kulechov, Enzyme Finance founder Mona El Isa, Terraform Labs co-founder and CEO Do Kwon and Kyber Network CEO and co-founder Loi Luu.

With the funds, the company hopes to support upcoming releases and further the development of its protocol. Its team is currently building improvements to liquidity mining, supporting partnerships and support for the community.

Founded in 2018, Vega is an open, decentralised protocol for creating and trading on high performance derivatives markets. Its blockchain offers fully automated processes and incentives for trading margined financial products that allow for markets that are open and decentralised.

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