FLUID aims to disrupt the virtual asset market-making industry by lowering fees and latency.
Fast facts
- Blockchain investors GSR, Ghaf Capital, and 21Shares led the round.
- FLUID aims to tackle a multi-trillion-dollar market problem of illiquidity in virtual assets.
- The firm wants to enhance liquidity across spot trading, derivatives, futures, synthetics, tokenized assets, and security token offerings.
- Funding will aid the team in providing real-time pricing, and liquidity for smaller venues such as exchanges, by lowering spreads and latency.
- This will in turn benefit DeFi, CeFi, NFTs, and other tokenized assets across retail and institutional verticals, a press release read.
- FLUID’S proprietary smart order book offers high throughput at ultra-low fees and minimal latency by using machine learning and quantitative-based methodologies used in the high-frequency trading world, a press release read.
- Team led by seasoned ex-bankers and fintech experts from Bank of America, Goldman Sachs, BlackRock, and Jefferies.
- FLUID aims to launch in May.