BlockFills, a Chicago-based digital asset trading technology company, has raised $37 million in Series A round to fuel its expansion plans.
- The funding round was led by a number of institutional investors like Susquehanna Private Equity, CME Ventures, Simplex Ventures, C6E, Nexo Inc, and others.
- BlockFills aims to be a one-stop shop for financial institutions that wish to develop a digital asset trading business.
- While institutions will be increasingly looking to offer digital asset services, many might not have the technical infrastructure needed to do so, which is what BlockFills seeks to address.
- BlockFills intends to use the capital to offer more upscaled services to asset managers and hedge funds, such as risk mitigation and hedging strategies, according to an announcement on Wednesday.
- The funding will also be used to expand its financing service for crypto miners. Since August 2020, the company has provided around $150 million capital to finance mining pool technology and trading support.