AlphaPoint Secures $5.6M to Expand Crypto White-Label Solutions
- The company has raised a total of $23.9 million to date.
AlphaPoint, a white-label exchange solution provider, announced on Thursday that it raised $5.6 million in a fresh funding round.
This came after a $15 million funding round of the company, which was closed in late 2018. The company ten received the entire funding from Galaxy Digital, as seen on Crunchbase. Founded in 2013, the New York-based company raised a total of 23.9 million.
The company, however, did not disclose the names of the investors in the fresh funding round.
As the press release detailed, the fresh proceeds will be utilized in expanding AlphaPoint’s reach and offerings for the growing digital asset exchanges. It will also use the funds in rolling out of exchange features like margin trading, integrated advanced brokerage capabilities, and Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term solutions to customers.
Commenting on the funding the firm’s ambitions, Igor Telyatnikov, co-founder and chief executive of AlphaPoint, said: “This capital injection enables AlphaPoint to continue delivering on our mission to enable access to digital assets globally. We are still in the early days of adoption and utilization of Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term technology.”
AlphaPoint’s white-label solution is being used by 150 exchanges across 35 countries, servicing more than a million end users, the company detailed.
The company is expanding into digital asset services when the demand in the market is growing. However, it will face fierce competition from major established players, including Binance, Huobi, KuCoin, and BitFury, who are also offering similar services.
“Stay tuned in 2020 as we will soon announce the release of a series of new liquidity, leverage, and lending products and solutions to our customers,” Telyatnikov added.
Bringing in experienced advisors
Apart from the funding, the company also announced the appointment of two fintech industry veterans - Tim Scheve and Jan Mayle - into its board of advisories.
Scheve is the president and CEO at brokerage and asset management firm Janney Montgomery Scott and is a part of the FINRA Board of Governors, while Mayle is heading The Mayle Group, a fintech consultant firm.
AlphaPoint, a white-label exchange solution provider, announced on Thursday that it raised $5.6 million in a fresh funding round.
This came after a $15 million funding round of the company, which was closed in late 2018. The company ten received the entire funding from Galaxy Digital, as seen on Crunchbase. Founded in 2013, the New York-based company raised a total of 23.9 million.
The company, however, did not disclose the names of the investors in the fresh funding round.
As the press release detailed, the fresh proceeds will be utilized in expanding AlphaPoint’s reach and offerings for the growing digital asset exchanges. It will also use the funds in rolling out of exchange features like margin trading, integrated advanced brokerage capabilities, and Liquidity Liquidity The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent The term liquidity refers to the process, speed, and ease of which a given asset or security can be converted into cash. Notably, liquidity surmises a retention in market price, with the most liquid assets representing cash.The most liquid asset of all is cash itself.· In economics, liquidity is defined by how efficiently and quickly an asset can be converted into usable cash without materially affecting its market price. · Nothing is more liquid than cash, while other assets represent Read this Term solutions to customers.
Commenting on the funding the firm’s ambitions, Igor Telyatnikov, co-founder and chief executive of AlphaPoint, said: “This capital injection enables AlphaPoint to continue delivering on our mission to enable access to digital assets globally. We are still in the early days of adoption and utilization of Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term technology.”
AlphaPoint’s white-label solution is being used by 150 exchanges across 35 countries, servicing more than a million end users, the company detailed.
The company is expanding into digital asset services when the demand in the market is growing. However, it will face fierce competition from major established players, including Binance, Huobi, KuCoin, and BitFury, who are also offering similar services.
“Stay tuned in 2020 as we will soon announce the release of a series of new liquidity, leverage, and lending products and solutions to our customers,” Telyatnikov added.
Bringing in experienced advisors
Apart from the funding, the company also announced the appointment of two fintech industry veterans - Tim Scheve and Jan Mayle - into its board of advisories.
Scheve is the president and CEO at brokerage and asset management firm Janney Montgomery Scott and is a part of the FINRA Board of Governors, while Mayle is heading The Mayle Group, a fintech consultant firm.