Institutional platform SheeldMarket raises $ 10 million

Fundraising to accelerate its growth

On its website, the investment company Atomico revealed that it had supported the French startup SheeldMarket in its fundraising of 10 million dollars.

Other investors include Pascal Gauthier (CEO of Ledger) and Alexis Bonillo (co-founder of Zenly).

SheeldMarket is a cryptocurrency platform whose objective is to help European institutions to invest in cryptocurrencies.

To attract them, the startup wants to comply with all European regulations. Moreover, the latter is registered as a Service Provider on Digital Assets (PSAN) with the Autorité des Marchés Financiers (AMF).

“We like SheeldMarket’s advanced platform as it allows us to execute very large trades on multiple global cryptocurrency exchanges, in a regulated manner, using advanced algorithms,” said Benjamin Tsai of Wave Financial.

With this new capital, SheeldMarket initially plans to expand its team. In addition, it intends to continue developing its platform in order to allow institutions to have access to derivatives as well as to decentralized finance protocols (DeFi).

Indeed, even if institutions want to invest in cryptocurrencies, they are also looking to access new financial products.

In this sense, the proposed protocol would be the one developed by Aave Arc in order to offer them opportunities for returns. On this point, Olivier Yates, CEO of SheeldMarket adds:

“As we are a regulated broker, we cannot trade directly with unauthorized DeFi protocols because there is no KYC. “

To date, the French startup’s total funding stands at $ 11 million. Indeed, SheeldMarket had already raised a million dollars last June for seed funding.

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About the Author: Anthony Bassetto

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