BlockFills Raises $37M for Scaling Trading Technology
BlockFills is a Chicago-based company that operates in the digital asset trading domain. The company majorly provides trading technology to its partners. In the latest development, it was notified by Blockfills that the company had secured a Series A funding of $37 million. The new funds will help the company in executing its expansion plans. This brings total funding to $150 million since August 2020. The company has also been a market leader in mining pool technology and trading support services.
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The leaders for the latest funding round had institutional investors like CME Ventures, Susquehanna Private Equity, Simplex Ventures, Nexo Inc, and C6E. There were some more names on the list. The company aims to offer a one-stop solution to financial institutes trying to develop a digital asset trading company. This will be done through an API-based approach where Blockfills will provide APIs to the companies to integrate with their solutions.
The trading technology will help companies who don’t have the infrastructure and technical capabilities to offer these digital services. Blockfills will address the gap and it will offer a ready-to-integrate platform. This will help the companies reduce the lead time for building the platform. Moreover, digital infrastructure is a major capital expenditure. Blockfills will also save companies from investing huge capital in such cases. So Chicagobased Blockfills Seriescrawleycoindesk means Trading Technology Provider BlockFills Raises $37M for Expansion .
In an article from Jamie Crawley, it was also notified that Blockfills would use the new funds to upscale the services. The new services will include hedging strategies and risk mitigation plans for asset managers and hedge fund managers. With this development, Blockfills will be able to tap a new market. In the same announcement, it was also notified that Blockfills would also be building new capabilities for crypto miners. This will enable crypto miners to access features and leverage them for profit.