Sentillia, the parent company of crypto derivatives platform Deribit, has led a €4 million ($4.4 million) seed funding round for Dutch cryptocurrency exchange Finst.
Deribit Parent Company Leads $4.4M Seed Funding Round Into Dutch Crypto Exchange Finst
The oversubscribed funding round will be used to expand Finst’s product range and advance its international expansion plans. Finst’s planned products include products aimed at “radically simplifying” access to the cryptocurrency market for retail investors, the exchange said on Tuesday.
Fіnst’s exchange debuted earlier this year and has attracted ‘thousands of active users’ in the Netherlands by offering cryptocurrency trading at average 82% lower fees than the eight exchanges registered with the Dutch Central Bank. One of the world’s largest crypto derivatives exchanges with a daily trading volume of over $750 million, Deribit is currently in its early stages designed to appeal to mass market traders and investors.
“Europe needs a first-class cryptocurrency exchange which is highly secure [and] fully transparent. Having one of the largest crypto derivatives exchanges in the world as shareholder brings us one step closer to achieving our ambition.” – said Fіnst co-founder and CEO Julien Vallet.
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