Wintermute Trading, a global algorithmic market maker for digital assets, announced that it has completed the seed funding round led by Blockchain.com Ventures. In a press release shared with CryptoSlate, the company said it will use the funding to improve its liquidity and enhance its technology.

Wintermute Trading is a proprietary trading company and crypto market maker. The round was led by Blockchain.com Ventures, while FBG and other angel investors participated in raising capital for the company.

Following its investment, Samuel Harrison, the managing partner at Blockchain.com Ventures, will be joining Wintermute’s board of directors. In a joint statement, Blockchain.com said that its investment in Wintermute aims to contribute to the creation of an open, fair, and accessible financial system. The funding is also set to promote blockchain use-cases that go beyond finance.

Peter Smith, the co-founder, and CEO of Blockchain.com, said that Wintermute has been one of the earliest partners to the Blockchain.com Exchange, which allowed the company to get to know the Wintermute team intimately.

He said:

“We were impressed with their execution capabilities, which we view as best in class, and developed the conviction that they will become a leading market-making force.”

Wintermute said that the funding raised in the seed round will be used to further enhance its technology to create a more liquid, efficient, and professional cryptocurrency market. Apart from that, the company is also looking to expand their team to deal with the increasing workload.

While still relatively small, Wintermute already has a huge dominance on the market. Founded in 2017, the company employs a group of high-frequency trading veterans hailing from Optiver. The experience of the team, combined with innovative and reliable technology, established Wintermute as a preferred partner to institutional investors.

The company also works with some of the leading cryptocurrency exchanges on the market, including the Blockchain.com exchange, Binance, Kraken, and Coinbase.

Evgeny Gaevoy, the CEO of Wintermute Trading, said that the company was excited to be working with such a wide variety of clients. The growing roster of its clients will enable it to create a robust market for all traders and market participants.

The post Blockchain.com Ventures leads seed funding for Wintermute Trading appeared first on CryptoSlate.

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