Bankruptcy claims trading market Xclaim has closed a $7 million Series A funding round, the company said Tuesday.

Xclaim allows for the trading of major bankruptcy creditor claims, including FTX, CoinDesk sister company Genesis and BlockFi. Currently, FTX claims are going for 19 cents on the dollar, up from 13 cents earlier this year, while Genesis is going for 52.5 cents and BlockFi for 18 cents.

“To further enhance liquidity, we intend to use the capital from our recent fundraise to expand our products and service offerings. We are most excited about our innovation of Collateralized Claim Obligations,” founder and CEO Matthew Sedigh, said in a note. “By aggregating diversified pools of thousands of claims under a single umbrella, we will have created commoditized products from bespoke assets. This will dramatically open up the market to many more participants on both sides of the market.”

Xclaim says it has listed more than $1 billion of claims and traded more than $200 million in volume since it started operations in 2018, with 500 registered investors – typically individuals or firms experienced with bankruptcy claims purchasing – on the platform. Single claims as large as $52 million have traded on the exchange, Xclaim says.

Xclaim isn’t the only platform offering bankruptcy claims trading. Recently Three Arrows Capital co-founders Kyle Davies and Su Zhu launched OPNX, which is short for Open Exchange. OPNX has struggled to obtain momentum, however, with CoinGecko reporting that the exchange only has $179,235 in volume.

In an earlier interview with CoinDesk, Xclaim Chief Strategy Officer Andrew Glantz said the majority of interest is from Asia-based sellers of claims.

Glantz said 50% of participants come from Singapore, 15% from China and 23% from Taiwan. Taiwan experienced significant per-capita losses on FTX, owing to the strong interest of Taiwanese individuals in the platform's attractive returns on U.S. dollar deposits.