23 June 2020, Singapore – Sparrow, the main choices buying and selling platform has secured USD 3.5 million in Series A funding to speed up platform growth.
The spherical was led by the HDR Group, proprietor and operator of BitMEX, and supported by Signum Capital, Du Capital and FinLab EOS VC.
Kenneth Yeo, CEO of Sparrow mentioned, “We’re actually happy that the spherical acquired robust help regardless of the tough financial local weather attributable to COVID-19. The robust curiosity from traders validates our view that digital asset choices would be the subsequent high-growth market.”
“We want to thank our companions and customers for his or her overwhelming help. Volumes have tripled because the begin of the yr. With this spherical of funding, we’re in an excellent place to deliver much more thrilling buying and selling merchandise to the market.”
Arthur Hayes, CEO of the HDR Group, mentioned, “We’re seeing vital progress in the digital asset choices area with a whole lot of untapped alternatives. We’re excited by Sparrow’s progress potential, the workforce behind it and are subsequently proud to be main this Series A spherical.”
Stefan Schuetze, Managing Director of FinLab EOS VC Fund, mentioned, “We’re excited to speculate in Sparrow, which is growing the subsequent era of economic merchandise by leveraging EOSIO for his or her on-chain settlement layer.”
Kenneth added, “Since launching in June 2019, now we have seen unprecedented progress with over USD 150 million in choices buying and selling quantity. We’re happy with how far we’ve come and look ahead to introducing extra revolutionary merchandise to the crypto derivatives market.”
Sparrow | www.sparrowexchange.com is the main choices buying and selling platform, offering the best technique to management threat and monetize your digital belongings.
Headquartered in Singapore, Sparrow gives BTC and ETH choices which can be settled by good contracts. Sparrow’s proprietary platform is accessible via a simplified interface, superior order guide, or buying and selling APIs.
About HDR Group
HDR Group is managed by Republic of Seychelles-incorporated HDR International Buying and selling Restricted, a monetary providers enterprise that operates the BitMEX crypto-products buying and selling platform. By BitMEX, HDR International gives a best-in-class buying and selling interface and suite of economic merchandise, together with bitcoin futures contracts and perpetual swaps.
About Signum Capital
Signum Capital is an funding agency based mostly out of Singapore. Signum’s portfolio contains of each fairness and digital belongings in the blockchain area, with a various funding strategy starting from exchanges, infrastructure initiatives to mining farms.
About Du Capital
Du Capital is a Singapore-based multi-stage funding agency backing firms and entrepreneurs that enterprise in revolutionary applied sciences such because the distributed ledger applied sciences (DLT).
About Block.one and EOS VC
Block.one’s EOS VC program gives builders and entrepreneurs the funding they should create community-driven companies leveraging EOSIO. It makes direct investments and offers help to firms constructing on EOSIO software program via its enterprise capital partnership funds. For additional info, please go to Block.one and vc.eos.io.
About FinLab AG
The listed FinLab AG (WKN 121806 / ISIN DE0001218063 / ticker image: A7A) is without doubt one of the first and largest traders in monetary providers applied sciences (“fintech”) and blockchain in Europe. FinLab focuses on offering enterprise capital to start-ups. It strives to actively and in the long-term help its investments. In doing so, FinLab helps its investments in their respective growth phases with their community and know-how. As well as, FinLab acts as an asset supervisor and manages belongings in the three-digit million vary.
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