BlockFills, a Chicago-based digital asset trading technology company, has raised $37 million in Series A round to fuel its expansion plans.
- The funding round was led by a number of institutional investors like Susquehanna Private Equity, CME Ventures, Simplex Ventures, C6E, Nexo Inc. and others.
- BlockFills aims to be a one-stop shop for financial institutions that wish to develop a digital asset trading business.
- While institutions will be increasingly looking to offer digital asset services, many might not have the technical infrastructure needed to do so, which is what BlockFills seeks to address.
- BlockFills intends to use the capital to offer more upscaled services to asset managers and hedge funds, such as risk mitigation and hedging strategies, according to an announcement on Wednesday.
- The funding will also be used to expand its financing service for crypto miners. Since August 2020, the company has provided around $150 million capital to finance mining pool technology and trading support.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.