Cryptocurrency dealer who plans to provide services to the institutional investors has been backed by Airbnb Co-Founder for $22.7 million. The platform is known by the name of SFOX. The platform recently announced that it was able to attract a lot of investors including the Airbnb co-founder Nathan Blecharczyk.
The cryptocurrency dealer has been operational since 2014. It caters to institutional investors as well as high net worth individuals. It is able to provide them with high volume trading options. This is the reason why it is able to attract the traders on a consistent basis.
Also, it generates more than enough liquidity for them to trade in the higher volumes. This is one of the main reasons why it has been able to consistently get newer and newer clients as well.
Up until now, the cryptocurrency dealer has generated over $ 9 billion in volumes. Also, this year alone it has seen its client base grow 12 fold. This is a clear indication that the cryptocurrency dealer is gaining more and more momentum.
Also, according to the cryptocurrency dealing platform, they will be launching the cryptocurrency management services pretty soon enough. With the help of these services, it will become easier for them to get newer clients as well. They are also planning on geographical expansion as well. Once the geographical expansion happens, the client base will increase even more.
The chief executive officer of the cryptocurrency dealing platform, Akbar Thobhani, recently stated that they are witnessing increased demand from the clients as well as various institutions. Due to this very reason, they are able to easily track newer and newer clients as well. In the future also, they are confident of providing diversified cryptocurrency related solutions to their customers.
With the cryptocurrency dealing platforms growing at such a rapid pace in spite of the fall in cryptocurrency prices, it is just a matter of time before more and most investors start investing in cryptocurrency. The lure of high returns is still attracting many people to the world of cryptocurrency investing. The problem is that currently most of the cryptocurrencies are in the doldrums. That is why it is becoming difficult for most of the investors to generate any kind of returns as the cryptocurrencies are falling on a consistent basis.
With that being said, this news will bring some cheer to the cryptocurrency dealing industry as they were able to attract a marquee name as an investor.
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