Crypto liquidity and OTC firm Altonomy raises $7M led by Polychain and 7 Blocks

Altonomy Crypto Ninjas

Altonomy, a trading desk and market maker for cryptocurrency assets, announced today it has closed on $7 million in seed financing led by Polychain Capital, an investment firm committed to supporting cryptocurrency and blockchain-themed projects, and 7 Blocks, the Singapore-based investment fund.

“As a long-time user of Altonomy’s trading services, it was an easy decision for us to invest in their business when the opportunity became available. Altonomy provides much needed intelligent trade execution as well as other institutional-grade financial services to the crypto market for a wide variety of verticals. Combining this with exceptional management and a global footprint across the U.S. and Asia, Altonomy is well-positioned for further success.”
– Olaf Carlson-Wee, founder and CEO of Polychain Capital

Altonomy provides institutional-grade trading and liquidity provision services for investors, exchanges and token projects across a variety of trading venues. It is a block liquidity provider for bitcoin futures products provided by CME Group, a top-tier market-maker for Huobi and other spot and derivatives exchanges, as well as a market maker for stablecoins including USD Coin, Tether, TrueUSD, and the Paxos Standard. Altonomy’s trading infrastructure connects to more than 60 cryptocurrency exchanges and OTC partners, which it uses to trade more than 250 cryptocurrencies with varying market caps.

“Altonomy is driven by our mission to facilitate institutional investors’ adoption of cryptocurrency assets. By harnessing this new influx of capital and maintaining strategic partnerships with market structure innovators like TrueDigital, Compound Finance, and Blockstream Liquid Network, we will continue to help clients extract value from this maturing asset class.”
– Bo Dong, co-founder, and CEO of Altonomy

Along with trading crypto-assets and providing liquidity, Altonomy recently expanded its services by launching AltMiner, a cloud mining product tailored to institutions seeking bitcoin mining exposure.

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