Institutional cryptocurrency trading platform Caspian closed its token sale ahead of schedule because it has already reached its goal of $19.5 million.
In a post, David Wills, the COO and co-founder, said making the goal with investment from Canada, UK, Hong Kong, Singapore, Italy, South Korea, Australia and Switzerland is a “huge milestone in the growth of our company and our journey to build the first institutional grade full-stack crypto trading and risk management platform for professional traders and investors.”
Caspian’s technology features a single interface that allows traders and other users to connect to different crypto exchanges and systems that manage portfolios, orders and risk management, Wills told ThirtyK in September.
According to the company, there are already 170 or so customers are waiting to be able to use its new platform, which recently finished beta testing. Currently, 15 global crypto institutions are live and trading on the platform, including Techemy, Blockstars, OSL and Galaxy Digital.
“With Fidelity announcing the launch of a much-needed custodial solution that allows investors to outsource the safekeeping of their assets to a trusted intermediary, coupled with the intuitive and user-friendly nature of a software platform like Caspian for the management of these assets, the floodgates have opened for institutional money to enter the market,” said Robert Dykes, Caspian’s CEO and co-founder.