Cryptocurrency trading platform FalconX has announced an investment from American Express Ventures. The amount of funding was not disclosed.
The company provides institutional clients with the ability to access cryptocurrency markets through a single platform for trading, lending, and clearing.
“We’re seeing growing interest from traditional asset managers who are adding cryptocurrencies as an inflationary hedge, catalyzed by recent macro-economic policies,” said Raghu Yarlagadda, FalconX CEO and co-founder. “It is a great pleasure to welcome American Express Ventures as we continue to invest in expanding FalconX’s product offering.”
According to the company, it serves over 250 institutional clients and has a transaction volume of around $ 3 billion per month.
“FalconX is helping bring simplicity to the increasingly complex digital asset space through a platform that provides discovery and pricing all in one place,” said Harshul Sanghi, Global Head of Amex Ventures. “Amex Ventures invests in startups as a way to better understand emerging areas of the payments ecosystem, and we are pleased to support FalconX as it continues to drive innovation in the digital asset space, including digital currencies.”
Recall that in May, FalconX received funding of $ 17 million from Coinbase Ventures and Avon Ventures, a venture capital fund associated with FMR LLC, the parent company of Fidelity Investments, as well as a number of other investors.