Tagomi Holdings Inc. now has a total of $28 million in funding after raising an additional $12 million in its latest round through backing from firms like Paradigm and Pantera Capital, according to a March 4, 2019 press release.
With the constant talk of the price volatility in the crypto market, you’d be forgiven for assuming that there wouldn’t be much of a market for crypto exchanges.
However, it would see that the opposite is true as, in 2019 alone, SDX and Mudrex’s exchange have all launched as brand new crypto exchanges.
They are also gaining more in terms of funding as it was announced on March 4, 2019, that Tagomi has been able to raise $12 million in the latest round of funding from investors such as Paradigm and Pantera Capital, bringing their total funding to $28 million.
Tagomi is the first live platform that offers agency services to investors looking to invest in cryptocurrencies such as bitcoin and ether. The company mainly focuses on easing the entry into the market for institutional investors and their CEO, Greg Tusar, has a spoken out about the challenges involved in this, with one of the biggest being the need to assemble all the trading components themselves.
This latest round of funding is indeed a vote of confidence from the firms that invest in them. Matt Huang, Founding Partner at Paradigm and former Partner at Sequoia, stated that what Tagomi is doing is the next step in the evolution of digital asset trading and they are excited to be involved.
Dan Morehead, Chief Executive Officer and Co-Chief Investment Officer at Pantera Capital, said that Tagomi’s offering is crucial for allowing institutional investors to have complete control and privacy when investing in digital assets and will serve to encourage even more investment.
Essentially, offering agency services will allow some of the larger investing firms to carry out trades in a way that they are already used to. Tagomi mentioned in the press release that the expertise and experiences of their clients would prove helpful in further developing the Tagomi business model.
“We are excited to partner with investors who have experienced first-hand, the frustrations around the lack of infrastructure, and work toward our shared vision of building next-generation robust trading technology, so that clients can focus solely on developing their strategies,” said Greg Tusar, Co-Chief Executive Officer of Tagomi.