Crypto liquidity aggregator FLUID raises US$10 million

FLUID aims to disrupt the virtual asset market-making industry by lowering fees and latency.

Fast facts

• Blockchain investors GSR, Ghaf Capital, and 21Shares led the round.
• FLUID aims to tackle a multi-trillion-dollar market problem of illiquidity in virtual assets.
• The firm wants to enhance liquidity across spot trading, derivatives, futures, synthetics, tokenized assets, and security token offerings.
• Funding will aid the team in providing real-time pricing, and liquidity for smaller venues such as exchanges, by lowering spreads and latency.
• This will in turn benefit DeFi, CeFi, NFTs, and other tokenized assets across retail and institutional verticals, a press release read.
• FLUID’S proprietary smart order book offers high throughput at ultra-low fees and minimal latency by using machine learning and quantitative-based methodologies used in the high-frequency trading world, a press release read.
• Team led by seasoned ex-bankers and fintech experts from Bank of America, Goldman Sachs, BlackRock, and Jefferies.
• FLUID aims to launch in May.