CoinRoutes, a trading platform for digital assets, has secured $16m from a Series B financing raise led by Ayon Capital.
Taking part in the round were Susquehanna International, Cboe Global Markets, CMT Digital, Genesis Global Trading, Galaxy Digital, Arca, Mirana Ventures, GSR Markets, AscendEX and others.
Launched in 2017, CoinRoutes provides pure-play crypto SaaS trading technology for customers.
CoinRoutes CEO and co-founder Dave Weisberger said, “Our clients make more money trading, net of fees, by using CoinRoutes. Our algorithms were built from the ground up for crypto’s unique market structure, leverage terabytes of market data collected daily, and have evolved based on five years of deep learning. We are laser-focused on helping our clients achieve best execution. The result is they capture significantly more alpha from their trades.”
CoinRoutes CTO and co-founder Ian Weisberger added, “If you want high-performing algorithms, you can forget using a TradFi multi-asset system that was retrofitted for crypto. Our algorithms are purpose-built for the unique intricacies of the crypto ecosystem.”
“If you run market-neutral portfolios or trade spot versus futures to capture spread, you’ll need a very high throughput environment to extract your alpha,” said Michael Holstein, CRO. “We provide everything you need.”
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