The New York-based cryptocurrency brokerage and trading platform known by the name Tagomi Holdings has just netted $12 million in its latest funding round, which goes in our daily cryptocurrency news section. Among the investors were the Yale-backed Paradigm Fund and other notable names, according to the official press release that the company shared on March 4th.
With a total funding of $28 million after its launch in December 2018, Tagomi is known for having the cryptocurrency giant Pantera Capital in its list of investors.
Currently, the platform offers Bitcoin (BTC), Ethereum (ETH) and other altcoin trading as well as a line of products geared to institutional investors – including portfolio management interface and API for programmatic trading.
As the CEO of Tagomi Greg Tusar said:
“We are excited to partner with investors who have experienced first-hand, the frustrations around the lack of infrastructure, and work toward our shared vision of building next generation robust trading technology, so that clients can focus solely on developing their strategies.”
Meanwhile, Tusar is a former Goldman Sachs executive, which is how he gained support from PayPal’s co-founder Peter Thiel and other investors. Speaking to Bloomberg in an interview this Monday, Tusar noted that there is a complex process involved in launching and supporting the nascent market.
“I think one of the challenges for institutions has been you have to assemble all of the pieces yourself,” he said.
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