SheeldMarket raises $ 10 million for its institutional crypto investment platform – TechCrunch

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Paris-based cryptocurrency broker SheeldMarket has raised a $ 10 million Series A funding round led by Atomico. As a registered broker in the EU, the company wants to help institutional investors buy and sell crypto assets in a regulated manner.

Most cryptocurrency products designed for institutional investors focus on American or Asian investors. SheeldMarket believes it can convince institutional investors in Europe by complying with local regulations and offering a product that works best for European investors.

In addition to Atomico, Semantic also participated in today’s tour de table. Several angel investors also participated, such as Pascal Gauthier (CEO of Ledger) and Alexis Bonillo (co-founder of Zenly).

If you want to start investing in cryptocurrencies as an institutional investor, you have to deal with several products and services, such as exchanges, custodians, and over-the-counter providers. Customers using SheeldMarket can get started more easily.

When you start working with SheeldMarket, you can deposit your funds directly with SheeldMarket. After that, the startup allows you to process market orders through multiple crypto exchanges and over-the-counter platforms. SheeldMarket automatically routes your order to the platform that offers the best exchange rate and / or sufficient liquidity. The average order size on the platform is $ 150,000.

We value SheeldMarket’s advanced platform as it allows us to execute very large trades on multiple global crypto exchanges, in a regulated manner, using advanced algorithms. It was a game-changer for us in terms of saving time, manpower and trading costs compared to manually executing the same volume of trades, Benjamin Tsai, Wave Financials, said in a statement.

In addition to improving its current product offering, SheeldMarket also wants to integrate with Decentralized Financial Protocols (DeFi). In this way, it could open up high yielding opportunities for financial investors.

And this is the key to understanding the potential of these prime brokers. Institutional investors are not just looking for ways to expose part of their portfolio to changes in the price of crypto. DeFi opens up a ton of possibilities with sophisticated new financial products. And institutional investors always like being able to access more markets and more products.

Image credits: SheeldMarket

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