California-based SFOX startup announced the successful closure of the first round of financing, during which it raised $22.7 million. The co-founder of the online booking platform AirBnB Nathan Blecharczyk is on the list of investors.
SFOX received the biggest investments from the companies Social Capital and Tribe Capital. Founded in 2014, the startup serves as an intermediary between the crypto-exchange markets and large investors. The platform allows organizations to trade without affecting the prices of cryptocurrencies. As representatives of SFOX noted, in 2018 the number of users of the platform has significantly increased.
The company plans to spend the raised funds on the development of products for risk management and security of crypto assets. Startup representatives believe that the developed solutions will allow institutional investors to use previously unused opportunities on crypto market.