Solidus, the cryptocurrency tracking firm has raised around $15 million in a strategic funding round led by Liberty City Ventures with participation from Exor Seeds and GSR. The funding brought the company’s total funding to almost $40M. Solidus raised $20M in May in a Series A round.
Solidus Offers Machine Learning-powered Trade Observation
The New York-based firm offers machine learning-powered exchange observation and transaction monitoring for advanced resources that can detect, address and report dubious conduct. Solidus was established in 2018 by previous Goldman Sachs bankers with a conviction that consistent tools would assist with driving standard cryptocurrency adoption, including the dispatch of crypto exchange-traded funds (ETFs).
Cryptocurrency stages were the underlying client base for Solidus Labs, yet the organization additionally has a developing segment among banks and traditional financial foundations. Solidus intends to venture into new use cases around decentralized finance (DeFi) stages and law implementation.
Solidus Became Well-Known with Ex-regulators
Solidus has become well-known with former regulators. The Series A round, that happened in May included participation from previous Securities and Exchange Commission (SEC) Commissioner Troy Paredes and Commodity Futures Trading Commission (CFTC) alums Daniel Gorfine and Chris Giancarlo. The firm recently appointed new vice president of regulatory affairs, Kathy Kraninger, the former director of Consumer Financial Protection Bureau (CFPB).
Solidus CEO Asaf Meir stated that the additional funding will help the company shortcut some of the development roadmaps to meet the demand they are being expected with in the DeFi space. Solidus stands as a unique suite of top-notch quality infrastructure, he added.
Besides this, Bakkt Holdings, a digital asset platform will soon enable its users to exchange the second biggest cryptocurrency, Ether, in addition to Bitcoin, the firm declared this on Friday. The firm also added that institutional clients can opt to utilize the Bakkt warehouse for custody of ethereum.
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