Crypto trading platform Vest Labs said it has raised $13 million in a seed round led by Portal Ventures, with participation from executives from Citadel Securities, BlackRock, and KKR. The company runs a model that lets eligible traders use firm capital to trade perpetual futures and share in the profits. According to Fortune, by late September, about 26% of the platform’s roughly 27,000 traders had received cash payouts. Vest also said its monthly active trader count and trading volume each rose more than 300% month over month. The company plans to use the new funding to build a mobile app, expand its team, and add more tradable assets.
Crypto trading platform Vest Labs has raised $13 million in a seed round led by Portal Ventures, the company said. Participants included executives from Citadel Securities, BlackRock, and KKR.
Vest allows eligible traders to use company capital to trade perpetual futures and share in the profits.
Platform metrics and use of proceeds
According to Fortune, by late September, about 26% of the platform’s roughly 27,000 traders had received cash payouts. Vest said its monthly active trader count and trading volume both increased more than 300% from the previous month.
The company said it plans to use the funding to develop a mobile app, expand its team, and increase the range of tradable assets.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
