Minterrrmute Raises $20 Million in New Funding Round
Wintermute is a London-based company that is popularly known as an algorithmic liquidity provider in the space of digital assets. The company recently secured $20m in the Series B of the funding round. In this round of funding, the main investors were Lightspeed Venture Partners and Pantera Capital. Other investors in the Series B funding round were Rockaway Blockchain Funds, Sino Global Capital, Hack VC, Kenetic Capital, DeFi Alliance, and Avon Ventures.
what is Wintermute 20m Series Lightspeed Partnersallisoncoindesk ?
As per an article from Ian Allison, Wintermute will be using these funds to expand the business. The first target for Wintermute is Singapore, and the company plans to open an office in the country. This will give Wintermute a headstart in the Asian market.
In addition, the company will also be launching a derivative business. The main highlight of the services would be the Request for Quote feature for the counterparties. This feature is extensively used for trading in a market that lacks liquidity. The feature seeks a quote from the buyer and helps the traders improve liquidity.
The Request for Quote feature is an automated version of the over-the-counter trading business of Wintermute. The Wintermute COO also mentioned that it became necessary for the company to build customer RFQ features. The customers were repeatedly asking for the feature so that the customers could increase the volume of the trade. After all the feedback from the clients, Wintermute agreed to launch the RFQ button on a pilot basis. So Wintermute 20m Series Lightspeed Partnersallisoncoindesk means Lightspeed, Pantera Join $20M Raise for Crypto Market Maker Wintermute
Since 2017, Wintermute has expanded its business very aggressively. The company has been providing liquidity to over 500 spot trading pairs. The focus of decentralized finance has proved to be very lucrative for Wintermute. In the same announcement, it was also mentioned that Wintermute is working towards offering liquidity to decentralized exchanges.
