From the press release:
London-based Crypto Facilities which operates a trading platform for digital assets and is the first provider of regulated Futures on bitcoin, today announced a $1.5m seed round led by Pamir Gelenbe’s AngelList syndicate with participation from Playfair Capital, Digital Currency Group, String Ventures and hedge fund veteran Lee Robinson. Since its launch in 2015, Crypto Facilities has established itself as the market leader in professional digital asset trading products, servicing private clients, investment firms and hedge funds. The firm has facilitated over $150m in bitcoin derivatives trades and recently announced a partnership with Chicago-based CME Group, the world's leading derivatives marketplace, to calculate and publish a reference rate and real time index on the bitcoin price, a step seen as sign of a further professionalization of digital asset trading.
Pamir Gelenbe said “The Crypto Facilities’ team combines deep product expertise, outstanding work ethic, and strong commercial acumen. They have achieved a lot with very little and are well
positioned in the emerging digital asset derivatives space.”
Barry Silbert, CEO of Digital Currency Group, said “We believe finance and investment professionals will play a big role in the bitcoin ecosystem, and Crypto Facilities is building a world-class bitcoin derivatives platform suited for sophisticated traders who want access to more complex financial instruments in bitcoin and a growing class of digital assets.”
Nathan Benaich, Partner at Playfair Capital, added “Blockchain technology and digital tokens are rendering many unsolved, high-value problems tractable. Major asset classes, services and contracts will gradually become digitised such that they run on a blockchain and become tradable. The digital assets derivatives platform Crypto Facilities has built is crucial to this shift and will only become more so as the market matures.”
Crypto Facilities has built products that enable traders to take a directional view on the price development of digital tokens and to manage their price risk. The firm also offers bitcoin custodial services. The capital from this financing round will allow Crypto Facilities to further enhance its infrastructure and product offerings, while continuing to work closely with financial regulators in the US and Europe.
Crypto Facilities CEO and cofounder Dr. Timo Schlaefer said, “Our investors bring deep expertise in financial markets and blockchain technology, and we are excited to be working with them in our next phase of growth. Blockchains will have a tremendous impact on how we transact and record information. Digital tokens have the potential to become a major asset class and we are at the forefront of facilitating trading these assets.”