SFOX raises $22.7 million for its institutional crypto asset management platform
SFOX, a cryptocurrency prime dealer for high-volume traders and institutional investors announced today that it raised $22.7 million in Series A funding. The round was led by Tribe Capital and Social Capital, with participation from Y Combinator, Khosla Ventures, DHVC, Blockchain Capital, Upside Partnership, SV Angel, DCG, Mark Britto, and Airbnb Co-Founder Nathan Blecharczyk.
Founded in 2014, provides services for investors such as funds, family offices, and high-net-worth individuals, with over $9 billion in transaction volume to date. SFOX has seen its client base grow 12-fold since the beginning of 2018, it enables institutions to trade high volumes without impacting prices by connecting them to a global network of cryptocurrency liquidity venues.
With this round of financing, SFOX plans to expand beyond its position as a prime dealer for institutional investors by building out the rails and infrastructure to become the premier institutional crypto asset management platform.
This will involve the delivery of a family of products that brings additional durability to crypto asset management, including advanced security and risk management products, additional infrastructure and support, and licenses to access new markets. SFOX believes these offerings will create new untapped opportunities for institutional investors.
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