Crypto-native derivatives trading platform Thalex has closed a Series A funding round worth $7.64 million. Thalex announced this seed funding and investors who participated in the round includes Bitfinex, I Money Crypto, QCP, Flow Traders, Bitstamp, and Wintermute.
The Gibraltar-based trading platform is a crypto derivatives exchange that deals in options, perpetual contracts, and futures. Meanwhile, the platform offers a couple of mouth-watering features which are crucial to traders in the crypto market.
Thalex conducts a liquidation process that involves automated delta-hedging to lessen the impact of the market. Also, to reduce the risk, the platform uses liquidation auctions to curtail the amount of complex risk taken by the firm.
Thalex encourages healthy competition amongst its liquidity providers as well as exchanges. Therefore, to foster such healthy competition, Thalex uses a market-marker scheme with competitive fee levels. In addition, market-maker protection and excellent connectivity are also available.
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One of Thalex’s ambitions is to facilitate the on-exchange trading of crypto derivatives at scale by removing friction.
The on-exchange trading will be used to ensure that its platform is reliable. It will also be of importance in its partnership with liquidity providers and other crypto exchanges. The investors who contributed will give their full support to this ambition of Thalex.
Thalex Funding Partnership Upscales Bitfinex and Bitstamp
For Bitfinex and Bitstamp, the partnership will give their users complete access to the total package of Thalex derivatives right from their interface. Before such access is granted, an instant and free transfer will be made to a Thalex account dedicated to that purpose.
Once the transfer is made, users can open positions on the Thalex platform with collateral. Hopefully, Bitfinex will start its partnership operations before the end of the year.
It is not only Thalex that has been getting the attention of investors in recent times. A London-based fintech firm, Elwood Technologies bagged $70 million in a Series A round chaired by Goldman Sach. The fintech’s valuation rose to $500 million with the secured funds.
