Big Congratulations to Graham R. And Team At Digital Asset Exchange, Archax
16 Oct 2020 — #Propine Company Spotlight – Big congratulations to Graham R. and his team at digital asset exchange, Archax for closing an oversubscribed seed round, raising $8 million from a group of VC firms. Originally targeting $5m, the raise was then extended, and the company has now secured funding totalling $8m to date.
Since making a splash as the first digital securities exchange and custodian in the UK to be regulated by the Financial Conduct Authority (FCA) two months ago, there seems to be no stopping Archax of late. And this seems to be a key factor for some of the VC firms’ consideration of investing in the company.
Sam Bankman-Fried, CEO at Alameda Research, commented: “We are impressed with the groundwork done by the Archax team to establish themselves within the UK regulatory framework and are very excited to take part in this funding round as they prepare to launch.”
Earlier this week, Archax partnered with HashKey Pro to pursue the joint development of common standards to further promote the development of the global institutional digital asset securities market.