The Amsterdam-based, cryptocurrency exchange platform TabTrader has raised $5.8 million in Series A funding from BitMEX Ventures, according to the news source.
Artesian Venture Partners, Hashkey Capital, Spartan Capital, SGH Capital, and SOSV are among the other investment firms involved. The startup has raised a total of $7.4 million in venture capital to date, allowing it to concentrate on its worldwide expansion. Wiliam Bao Bean of Artesian Venture Partners while commenting on the funding round stated that:
Cryptocurrencies are the quintessential cross-border financial instruments, and TabTrader’s approach to exchange aggregation on mobile took accessibility to the next level. We are very proud to have been supporting TabTrader from its earliest days.
The fresh capital will be utilized to hire new staff and expand its presence across the globe. TabTrader is an application targeted at cryptocurrencies traders, allowing them to connect their exchange accounts into TabTrader’s apps, which then gives the user access to buy and sell orders. The app allows users to keep track of market prices on over 35 crypto exchanges.
Cryptocurrency traders are familiar with balancing multiple accounts across different exchanges. Concerns about security, price volatility, and availability can lead to a stressful experience for traders who have to constantly monitor prices on various exchanges while maintaining separate login credentials. That’s where TabTrader comes in.
This app is available in the Apple (NASDAQ:AAPL) App Store or Google (NASDAQ:GOOGL) Play store and provides each user with real time data from the API’s of the supported exchanges. TabTrader supports most popular cryptocurrency exchanges including BitFinex, Binance, Bitstamp, Bittrex, Coinbase (NASDAQ:COIN) Pro / GDAX / Coinbase for buying and selling cryptocurrencies directly from TabTrader. With no advertising, the Amsterdam-based firm has more than 400,000 active users across its IoS and Android apps, with desktop and internet versions under development.
TabTrader to launch TTT token in December
On December 1st, TabTrader will launch its own cryptocurrency TTT on the Solanium and AcceleRaytor exchanges. The company suggests that the coins will be used within the platform in the future. Token holders may use them to pay for things like app purchases and governance fees.
Users who take part in the project’s start-up phase by signing up for the first DEX offering (IDO) are actively participating in its development and may profit from a limited-time offer and an intriguing investment opportunity owing to the company’s future expansion.
The mobile platform was created by TabTrader with the aim of revolutionizing how consumers may engage with the cryptocurrency market. With over 6 billion smartphone users across the world today, TabTrader is looking to tap into the market by creating a cross-exchange app that will allow users to get information from TabTrader’s growing list of supported exchanges.
With TabTrader’s help, cryptocurrency traders will be able to buy and sell coins from different sources in one simple platform instead of having to log into individual accounts on numerous platforms. TabTrader’s main feature is that it aggregates all available exchanges into one easy-to-use tool.