Thalex, a Gibraltar-based trading platform offering stablecoin-settled crypto options and futures, closed its EUR 7.5m Series A funding round.
Backers included Bitfinex, Bitstamp, Flow Traders, IMC, QCP and Wintermute.
The company intends to use the funds to expand operations and its business reach.
Thalex is a crypto-native derivatives exchange whose key features include:
- Linear BTC and ETH contracts with multi-collateral support (BTC, ETH, USDt and USDC).
- Trading fees are anchored on 1 bps maker and taker, and fee advantages for multi-leg options and futures strategies (RFQ).
- Future rolls with dedicated order books.
- RFQs for multi-leg options and futures strategies, in any size.
- A market maker scheme with competitive fee levels, market maker protection and excellent connectivity to foster healthy competition among liquidity providers on a level playing field.
- Portfolio-based margining offering capital efficiency for delta and vega offsetting positions, but adequate requirements for wing risks.
- An efficient liquidation process involving automated delta-hedging to limit market impact and liquidation auctions to enable an orderly reduction of complex risks.
The platform is now available for public testing at www.thalex.com and will go live soon.
The company is in the process of being authorised as a regulated DLT provider by the Gibraltar Financial Services Commission.
FinSMEs
07/07/2022