Swedish Digital Currency Exchange Cryex Raises $10 Million

Swedish digital currency exchange Cryex has raised $10m from firms including iZettle investor Northzone Ventures.

AccessTimeIconMay 7, 2015 at 5:30 p.m. UTC
Updated Sep 11, 2021 at 11:40 a.m. UTC

Sweden-based digital currency exchange Cryex has raised $10m from investors including White Star Capital and Northzone Ventures.

According to its website, launched 4th May, the Stockholm-based company seeks to bridge the gap between traditional financial markets and blockchain technology with a soon-to-be launched exchange product.

Though details are scarce, this general focus was further addressed by Simon Nathanson, chairman of Cryex Clearing AB, in statements regarding the round.

Nathanson said:

 “Cryex has a unique model to clearing and settlement and has all the necessary components in place; financial-grade architecture and technology partners, a seasoned team and a number of high-profile strategic investors from the financial sector.”

Eric Martineau-Fortin, managing partner at White Star Capital, voiced his enthusiasm for the company's coming market entrance, which he said he hopes will attract "financial institutions into the digital currency ecosystem".

A company statement indicated Cryex has filed a regulation application with the Swedish Finansinspektionen (SFSA), Sweden's government agency responsible for regulation and overseeing the country's financial market.

Notably, Northzone Ventures has previously invested in mobile payments firm iZettle, though neither it nor White Star Capital has a history of financial technology investments.

The SFSA did not respond to requests for comment at the time of press.

Coins image via Shutterstock.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

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 2024, 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.