To say that cryptocurrency has grown significantly over the past few years would be an understatement. Not only has it become a more accepted form of investment among average investors, but even companies and countries are showing a softness to it that many have never seen before. And with the prices constantly rising along with the expanding market, cryptocurrencies show no signs of slowing down.
Hedge funds, investment banks, and other more institutional markets have also taken a liking towards it. And one small startup in Paris is looking to become the sole broker for all of these crypto firms that connect to other investors.
However, while larger institutions are certainly taking a real interest in cryptocurrencies, trading for them is much more difficult. In fact, since it is so difficult to trade cryptocurrency for them, it remains a major barrier to entry. Most institutional firms will not set foot in the crypto market because they have to spend so much time trying to get started.
To ensure that these major institutions will be able to get the best prices, they have to deposit their funds in a number of different cryptocurrency exchanges. And since liquidity is often lacking with most of their investments, they also have to deal with the moving prices, which can lead to them not making as much profit as they usually would.
And with major institutions currently facing this problem, a Paris Startup is looking to help solve this problem for them. Sheeldmarket is a new firm from a veteran of the industry, Credit Suisse. And their main pitch is that they will be making trading a lot easier for larger institutions, who are not getting into the market due to the aforementioned barriers to entry.
And even though they have clients around the world, companies in Europe have especially taken a liking towards them. Since Sheeldmarket is currently working out of the EU, they are also regulated, which makes them more trustworthy in the eyes of major institutional firms.
Sheelmarket’s first round of investments aso proved to be quite successful, as they were able to raise almost $10 million through various companies. This current round of investments came from the company Atomico, which has helped a variety of other crypto based firms with their funding. Sheelmarket has gone on to say that their main reason for this funding is to support their growth.
Seeing the pitch that they are making, it is not hard to believe that they will eventually succeed in getting to the top. Their company is truly unique and offers clients something that no other company can, a promise to make the crypto market easier to understand.