Thalex Raises €7.5M to Extend Stablecoin-Settled Crypto
Thalex closed a Series A funding round of €7.5 million with several strategic investors. These include Bitstamp, Flow Traders, Bitfinex, QCP, Wintermute, and IMC. The funding will support the company’s goal of developing exchange-traded crypto derivatives; Specifically, stablecoin-populated crypto options and futures.
Bitstamp and Bitfinex, two of Thalex’s strategic investors, will allow their customers to access the full suite of Thalex derivatives from their user interface. Positions on Thalex can open with collateral on the partner’s exchange after an instant and free transfer to Thalex’s margin account. The Bitfinex partnership may launch by the end of the year.
It is worth noting that Thalex’s trading platform cooperates with major exchanges and LPs. The firm provides offerings such as BTC and ETH contracts with multi-collateral support. Trading fees are attached at 1 bps to the originator and receiver. Also commission advantages for multi-step options and futures strategies. Future rolls with separate order books. RFQs for multi-step options and futures strategies of any size. Market creator scheme with ambitious fee levels.
Including market maker protection and excellent connectivity to promote healthy competition among liquidity providers on a level playing field. Portfolio-based margining that offers capital efficiency for delta and vega offset positions. An efficient liquidation process that includes automated delta hedging to limit market exposure. As well as liquidation auctions to enable the orderly reduction of complex risks.
According to the CTO of Bitfinex, together with Thalex, the firm sees great potential for the stablecoin-populated futures and options market. As Bitstamp’s CEO explained, Thalex’s unique value approach will allow Bitstamp to simplify market entry for derivatives. Also for the firm to participate in the rapidly growing crypto derivatives market. This investment road the starting of a close partnership and is very essential in Bitstamp’s corporate plan.
Flow Traders is happy to support Thalex. The firm’s ambition to create a large-scale infrastructure. It will enable exchange trading of crypto derivatives, is another step forward in making digital asset trading more accessible and efficient.
According to the founder of QCP Capital, crypto options are one of the fastest-growing segments of the space. Consequently, it has proven to be robust over many market cycles. The Thalex team has created a platform that combines best practices from both crypto and traditional finance. Accordingly, partners expect the expansion and development of crypto ecosystems.
Coinbase’s stock price has fallen 81% this year and recently announced plans. With Coinbase reporting a $430 million loss in the first quarter, some hedge funds are starting to short the stock. That means Wall Street is betting that Coinbase’s value will fall even further.
However, all is not lost for the stock market. According to analysts who see more upside to the crypto-bubble than the current crash suggests. Despite the recent struggles, they predict that Coinbase will be able to emerge from the crisis and eventually prosper. Analysts say this is because the company has learned how to survive such downturns.
Coinbase was founded in 2012, a few years before the cryptocurrency frenzy or the current “crypto winter” hit the US. The firm now has a market cap of $13.8 billion. It has approximately 5,000 employees and $256 billion in assets on the platform. According to the researchers, the firm has gone through several crypto winters, and each time it survived. Experts’ confidence is strengthened by Coinbase’s $6 billion reserves. This money is quite a solid pillar that will help the firm overcome difficult times.