Sparrow, an options trading platform based in Singapore, has secured US$3.5 million in Series A funding, led by the HDR Group, owner and operator of crypto exchange BitMEX.
Also participated in the round were Signum Capital, Du Capital, FinLab EOS VC.
Kenneth Yeo, CEO of Sparrow, said: “Since launching in June 2019, we have seen unprecedented growth with over US$150 million in options trading volume. Volumes have tripled since the start of the year. We look forward to introducing more innovative products to the crypto derivatives market.”
Headquartered in Singapore, Sparrow offers BTC and ETH options that are settled by smart contracts. Its proprietary platform is accessible through an interface, advanced order book, or trading APIs.
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Signum Capital is an investment firm based out of Singapore. Signum’s portfolio comprises both equity and digital assets in the blockchain space, with a diverse investment approach ranging from exchanges, infrastructure projects to mining farms.
Du Capital is a Singapore-based multi-stage investment firm backing companies and entrepreneurs that venture in innovative technologies such as the distributed ledger technologies (DLT).
FinLab is a fintech and blockchain investor in Europe. FinLab focuses on providing venture capital to startups.
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