Paradigm, an OTC institutional investor platform, has closed a $ 35 million Series A funding round with a $ 400 million valuation led by Jump Trading and Alameda Research.
🎉 We are very excited to announce the closing of our Series A co-led by @jumpcapital and Alameda Ventures!
– Paradigm (@tradeparadigm) December 9, 2021
Financing was also provided by Genesis Trading, QCP Capital, Nexo, Optiver US, IMC, GSR, Akuna Capital, Babel Finance, MGNR, Avon Ventures, CMT Digital, Dragonfly Capital, Digital Currency Group, Vectr Fintech Partners, Mirana Ventures, as well as top managers from Goldentree Asset Management and Amber Group.
According to the firm, the trading volume on its platform has grown 14 times over the year, reaching $ 10 billion per month. The partner network has grown to 600 institutions.
“The funds received will allow us to expand our product line and network of partners in the form of institutional traders, bitcoin exchanges and DeFi-protocols “– said Anand Gomes, co-founder and CEO of Paradigm.
The platform offers spread and combination oriented order books, spread matrices for futures and interest rate curves for loans.
Paradigm does not charge commissions and does not take assets for safekeeping, linking the parties to the transaction directly.
Standardized workflow automation tools are available to customers to reconcile and implement complex strategies using a single atomic transaction.
Recall that the cryptocurrency platform Crypto.com has entered into an agreement to purchase two derivatives exchanges in the United States from the financial company IG Group Holdings.