Dutch cryptocurrency exchange Finst has recently received $4.4 million in seed funding from its parent company, Deribit. This funding will help Finst to expand its services and improve its platform, making it more accessible and user-friendly for its customers.
Finst is a relatively new player in the cryptocurrency exchange market, having been launched in 2020. However, it has quickly gained popularity among traders due to its low fees and user-friendly interface. The exchange currently supports trading in Bitcoin, Ethereum, and Litecoin, with plans to add more cryptocurrencies in the future.
Deribit, the parent company of Finst, is a well-established cryptocurrency derivatives exchange that has been operating since 2016. It is one of the largest exchanges in the world for trading Bitcoin options and futures contracts. With this funding, Deribit aims to support Finst in its growth and development, helping it to become a major player in the cryptocurrency exchange market.
The funding round was led by QCP Capital, a Singapore-based digital asset trading firm. Other investors included Three Arrows Capital, DeFi Alliance, and Spartan Group. The funding will be used to improve Finst’s platform and expand its services, including the addition of new cryptocurrencies and trading pairs.
Finst’s CEO, Michael van de Poppe, expressed his excitement about the funding round, stating that it will help the exchange to “scale up our operations and bring our platform to more users around the world.” He also emphasized Finst’s commitment to providing a safe and secure trading environment for its customers.
The cryptocurrency market has seen significant growth in recent years, with more and more investors looking to enter the market. As a result, there has been a surge in demand for reliable and user-friendly cryptocurrency exchanges. Finst’s funding round is a testament to the growing importance of these exchanges in the cryptocurrency ecosystem.
In conclusion, Finst’s $4.4 million seed funding from Deribit is a significant milestone for the Dutch cryptocurrency exchange. With this funding, Finst will be able to expand its services and improve its platform, making it more accessible and user-friendly for its customers. This funding round is a positive sign for the cryptocurrency market as a whole, highlighting the growing importance of reliable and user-friendly exchanges in the ecosystem.
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