Foresight Ventures Now Invests $15M In Crypto Market Maker CyberX

Key Points:

• CyberX announced the completion of a $15M Series A+ funding round from Foresight Ventures.
• The company plans to use the funding to expand its team in Asia and North America, integrate more exchanges and DeFi protocols into its liquidity network, and strengthen its trading infrastructure to further improve liquidity and pricing for its partners and clients.

According to PRWeb, Foresight Ventures, a crypto venture capital firm with over $400 million in assets under management, has made a strategic investment of $15 million in cryptocurrency market creator CyberX.

CyberX plans to use the capital to grow its workforce in Asia and North America, integrate new exchanges and decentralized finance (DeFi) protocols, and expand its trading infrastructure. Decentralized finance is the practice of conducting financial transactions on a blockchain without the need for traditional middlemen.

Market makers are essentially trading businesses that bet on tokens and take the opposite side of deals on exchanges when other traders are attempting to buy in or out rapidly. The collapse of the multibillion-dollar crypto exchange FTX sparked concerns about the industry’s overall liquidity, and market makers came under scrutiny.

Algorithmic market creation in spot and derivatives markets, futures options, structured products, over-the-counter services, and DeFi protocols are among CyberX‘s liquidity solutions.

Blockchain technology has transformed the way value is exchanged in TradFi. As a crypto market maker, we aim to connect assets efficiently and transparently with our proprietary technology to provide liquidity across trading venues, DeFi protocols, and NFT marketplaces. We have been developing liquidity solutions for the crypto industry since 2016. Our infrastructure is robust and has been proven to be successful in coping with a variety of long-tail risks under extreme market conditions. The current funding will accelerate our expansion plan for an enhanced liquidity network and continuously adapt our system to new developments in DeFi and NFT sectors.

said Hao Wang, CEO of CyberX

CyberX was founded in 2016 by a group of Wall Street veterans and now has offices in the U.S., Canada, Hong Kong and Singapore, CyberX has established a large crypto liquidity network with a daily trading volume of $400 million and a network encompassing more than 30 venues and 5,000 tokens with 10,000 trading pairings. In the last year, CyberX’s trading volume has nearly doubled, with DeFi coverage accounting for at least 40% of overall trading activity.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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