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:
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.
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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.