Paradigm, a firm that provides liquidity to crypto derivatives traders, raised $35 million in a Series A funding round co-led by Jump Capital and Alameda Ventures.
- The round values the firm at $400 million, Paradigm said in a press release on Thursday.
- Over 25 other investors also participated in the Series A, including Genesis Trading, QCP Capital, Nexo and Optiver US. Genesis is owned by Digital Currency Group, which also owns CryptoX.
- Previous investors Dragonfly Capital, Digital Currency Group, Vectr Fintech Partners and Mirana Ventures, the venture partner of Bybit and BitDAO, also participated.
- “Institutional infrastructure in crypto capital markets is still nascent and liquidity highly fragmented. Paradigm is disrupting that by providing a single point of access to global liquidity and a unified execution and settlement layer to most institutional traders in the world,” said Saurabh Sharma, a partner at Jump Capital.
- Paradigm is not related to the investment company Paradigm Capital.
