Slovak crypto platform raises €1m
AltFINS, a Slovakia-based trading platform for digital assets has announced the completion of a funding round in which it raised over €1m.
The financing was led by local asset manager CB Investment Management and underlines the rising attraction of crypto trading infrastucture among institutional investors in Europe.
While the volatile world of bitcoin and other cryptocurrencies have had a guarded reaction from fund managers and other institutional investors, there has been much more interest in the trading of digital assets and security tokens.
A recent survey by Fidelity of almost 800 institutional investors across the US and Europe showed that almost 80% found something appealing about the asset class while 36% of respondents say they are currently invested in digital assets, and six out of ten believe digital assets have a place in their investment portfolio.
According to altFINS, which was formed in 2018, its platform is focused on pre and post-trade analytics rather than trade execution.
The proceeds from its latest funding will be used to expand the platform’s current capabilities and scalabilities, said altFINS founder Richard Fetyko. “We estimate that there are around 50 million crypto investors today and we believe that crypto will continue to gain an allocation in most investors’ portfolios, particularly among millennials and the digital native generation Z.”