Altonomy, a Singapore-based trading desk and market maker for cryptocurrency assets, closed a $7m seed financing.
The round was led by Polychain Capital.
The company intends to use the funds to expand its business reach.
Led by Bo Dong, co-founder and CEO, Ricky Li, co-founder and Head of Americas, Altonomy provides institution-grade trading and liquidity provision services for investors, exchanges and token projects across a variety of trading venues worldwide. It is a block liquidity provider for bitcoin futures products provided by CME Group, a top-tier market maker for Huobi and other spot and derivatives exchanges, as well as a market maker for stablecoins including USD Coin, Tether, TrueUSD and the Paxos Standard.
Altonomy’s trading infrastructure connects to more than 60 cryptocurrency exchanges and OTC partners, which it uses to trade more than 250 cryptocurrencies with varying market caps.
Parallel with trading crypto assets and providing liquidity, the company recently expanded its services portfolio by launching AltMiner, a new cloud mining product tailored specifically to institutions seeking large mining exposure.
Altonomy alos has offices in New York City and Shenzhen.