Binance Labs Invests $3 Million in US-Based Crypto Trading Desk

Rafael Matsunaga / Flickr
Voyager
Voyager

Binance Labs, the venture arm of the leading cryptocurrency exchange, has invested $3 million into Koi Trading, an OTC trading startup based in San Francisco.

According to the company’s website, Koi Trading aims to provide a reliable, efficient, and compliant OTC pathway for both high net-worth individuals and institutions to invest in cryptocurrency. Kai additionally provides clients with quantitative research and API-driven trading options.

“Koi Trading’s mission is to bridge fiat and cryptocurrencies in a compliant manner. This aligns with our broader vision at Binance to build the infrastructure which provides the freedom of value exchange globally,” said¬†Head of Binance Labs Ella Zhang.

According to the press release, Koi has notable connections with OTC counterparties located in China, which are currently suffering from a lack of professional platforms due to the stern government restrictions.

CEO and founder Hao Chen, added, “With Koi’s robust AML program, extensive banking relations in the US, investment from Binance Labs, and strong trust amongst counterparties in the Greater China, we aim to be the market nexus that reduces trust and information asymmetry and improves cryptocurrency OTC deal close rate.”

This news comes a little over a month after Binance Labs invested several million dollars into CertiK, a startup that provides blockchain and smart contract audits and verification.

Similar: Binance Labs Invests in Blockchain Cybersecurity Startup CertiK
Noteworthy: Bakkt Delayed: Much-Anticipated Bitcoin Exchange Pushed to 2019
Photo: Rafael Matsunaga / Flickr

Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.

 
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