D2X, a Netherlands-based crypto derivatives exchange, has secured a $10 million Series A funding round led by Point72 Ventures, backed by Steve Cohen. This investment comes as D2X obtains a crucial milestone of being the first entity in the European Union (EU) to acquire a Markets in Financial Instruments Directive (MiFID) multilateral trading facility (MTF) license for crypto derivatives.
Vision and Regulatory Compliance
With the MTF license granted by the Dutch Authority for Financial Markets (AFM), D2X is authorized to operate a regulated trading venue for cash-settled crypto futures and options. The exchange plans to launch in the second quarter of 2024, aiming to become the first in Europe to list regulated crypto derivatives seven days a week.
Support from Point72 Ventures
Adam Carson, Partner at Point72 Ventures, expressed excitement about supporting D2X’s mission to revolutionize the crypto derivatives market. He praised their dedication to providing a regulated trading venue for institutions, highlighting the potential for transformative changes in the industry.
Interest in Crypto Derivatives Market
The interest in crypto derivatives has been steadily growing, attracting advanced traders due to their complexity and tradability. Despite sector volatility, Point72 Ventures remains actively involved in investing in digital asset startups, emphasizing their belief in the long-term potential of the crypto market.
Implications for the Industry
D2X’s achievement and the backing from Point72 Ventures signify a positive shift in the perception of crypto derivatives trading, showcasing the growing interest from institutional investors. As the market enters a bull run, venture capital firms are increasingly eyeing new projects for investment, signaling optimism and potential growth opportunities in the crypto sector.
Conclusion
The funding secured by D2X, led by Point72 Ventures, marks a significant milestone for the exchange and the broader crypto derivatives market. With regulatory compliance and institutional support, D2X aims to bring innovation and reliability to the industry, contributing to its maturation and adoption.
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FAQs
Q1. What distinguishes D2X from other crypto exchanges?
D2X stands out for obtaining a MiFID multilateral trading facility (MTF) license for crypto derivatives, demonstrating its commitment to regulatory compliance and institutional-grade trading infrastructure.
Q2. How does Point72 Ventures contribute to the crypto market?
Point72 Ventures’ investment in D2X reflects its confidence in the potential of the crypto sector and its commitment to supporting innovative projects that drive industry growth and adoption.
