Fractal, an infrastructure provider enabling institutions to clear, settle and margin digital assets on-chain, has scored $6m in seed financing.
The round was led by Hack VC and saw participation from 6th Man Ventures, Archetype Ventures, Avalanche Ecosystem Fund Blizzard, Circle Ventures, CMT Digital, CoinShares, GoldenTree Asset Management, QCP Capital, Spartan Group, as well as a flurry of angel investors.
The funding will be used to continue launching institutional-grade products that facilitate capital efficiency, transparency, as well as a simplified user journey.
Fractal co-founders and co-CEOs Aya Kantorovich and Alexandre Elkrief said, “The last year’s events in the cryptocurrency industry as well as today’s current banking environment have taught us that disintermediation, institutionalization, and transparency are greatly needed to build trust in the counterparty risk of different players in the space. Digital asset infrastructure evolved from centralized exchanges and over-the-counter (OTC) dealers to Centralized Finance (CeFi) prime brokers that simplified price discovery.
“The next generation of digital asset infrastructure needs to enable transparent proof of reserves, tri-party collateral management and instant on-chain settlements. Our technology will provide just that as we transition to this next phase for the future of on-chain finance.”
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