24 Exchange Raises $14M in Funding

24 Exchange, a Hamilton, Bermuda-based multi-asset class trading platform, raised $14.25m in funding.

The round was led by Point72 Ventures.

The company intends to use the funds for the continued expansion of its multi-asset trading platform to encompass additional asset classes, including equities and cryptocurrencies. This expansion will bring new trading options to 24 Exchange’s growing base of institutional market clients.

Led by Dmitri Galinov, CEO and Founder, 24 Exchange is a multi-asset class trading platform that allows market participants to exchange their exposures at the lowest possible cost. It is operated by 24 Exchange Bermuda Limited, which is regulated by the Bermuda Monetary Authority for the purposes of conducting Digital Asset Business, pursuant to the Digital Asset Business Act. 24 Exchange recently filed key portions of a Form 1 application in draft form with the U.S. Securities and Exchange Commission for a license to operate a national securities exchange. Subject to SEC approval, the proposed exchange would operate around the clock, 365 days-a-year, and enable trades in U.S. equities with a minimum increment of one one-thousandth of a share.

In September, 24 Exchange completed its first physical cryptocurrency trade under its “Class T” Digital Asset Business license from the Bermuda Monetary Authority.

FinSMEs

02/12/2021