F.Loating Point Group (FPG), a startup that provides automation technology to institutional cryptocurrency traders, raised $ 2 million from various companies.
“It is becoming increasingly clear that sophisticated quantitative traders and platform developers see the cryptocurrency markets as an exciting new opportunity.”FPG CEO John Peurifoy said in a statement on May 28th.
The funds are earmarked for enlargement
Steve Kokinos, CEO of Algorand, Seabury Global Markets, Naval Ravikant, founder of AngelList, and many others invested the money in FPGin return received shares in the company, the statement said.
A team that works under the governing bodies of the United States, FPG plans to provide funds for regulatory approvals and for hiring engineers.
FPG satisfies technology-dependent operators
FPG is originally from the Massachusetts Institute of Technology (MIT) and offers retailers a single point of contact to automate their processes.FPG works with APIs to give them the technological aspects they want under the laws of the United States. Traders can connect to various exchanges and platforms for trading and liquiditytook note of the statement.
“As this market grows, we will continue to add key parts of the major exchanges through innovation and strategic partnerships with other high quality groups to deliver a rich experience that meets the technical requirements of algorithmic traders or other groups you build trading applications.”
The startup has provided more than $ 100 million in business since its inception.added the statement.
Peurifoy’s comment is just the latest indicator of growing interest in trading and investing in cryptocurrencies., the CEO of the data analysis company Digital Assets Data, Mike Alfred recently told Cointelegraph that 20 people who were not previously involved would have contacted him with an interest in the industry.
Cointelegraph is in the middle of the correspondence with FPG about further details. Additions or follow-up measures will be made as needed and await answers.
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