Sparrow Exchange, a Bitcoin and Ethereum choices buying and selling platform primarily based in Singapore, introduced in the present day it has raised $3.5 million in Sequence A funding.
The spherical was led by HDR Group, the proprietor of cryptocurrency change BitMEX, with participation from Signum Capital, Du Capital and FinLab EOS VC.
The funding will likely be used to develop Sparrow’s platform and launch new services. Earlier this month, for instance, it introduced an iOS-optimized mobile interface, and has different releases coming quickly. Since launching a yr in the past, Sparrow has seen over $150 million in choices buying and selling quantity.
In a press assertion, FinLab EOS VC Fund managing director Stefan Schuetze mentioned, “We’re excited to put money into Sparrow, which is growing the following technology of economic merchandise by leveraging EOSIO for his or her on-chain settlement layer.”
Regardless of the pandemic, the corporate says its seen a rise in quantity over the previous few months, as Bitcoin buying and selling reached file highs in a number of international locations, after an initial sell-off in March.