Caspian token sale closes early after successful raising of $19.5m

The new institutional cryptocurrency trading platform Caspian has wrapped up its private and public token sale early after successfully raising $19.5 million.

Caspian’s platform, which recently went live, provides institutional crypto investors with a sophisticated institutional cryptocurrency trading platform.

Contributors to the token sale came from Canada, the UK, Hong Kong, Singapore, Italy, South Korea, Australia and Switzerland.

“Selling out the crowdsale is a huge milestone in the growth of our company and our journey to build the first institutional grade full-stack crypto trading and risk management platform for professional traders and investors,” says Caspian’s chief operating officer and co-founder David Willis in a statement.

“Caspian is a critical tool to assist the rapidly growing number of financial institutions seeking to trade cryptocurrencies,” Willis added.

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Fifteen crypto institutions, including Techemy, Blockstars and Galaxy Digital, are already trading crypto on the platform while another 170 customers are waiting to be onboarded, according to Caspian.

The company also boasts another 15 clients in the onboarding process including Lykke, ID Theory, Bletchley Park and ex-Point 72 manager Travis Kling’s Ikigai Asset Management.

Robert Dykes CEO and Co-Founder of Caspian, says: “The tools institutions need to make serious investments in this space are gaining momentum. With Fidelity announcing the launch of a much needed custodial solution that allows investors to outsource the safekeeping of their assets to a trusted intermediary, coupled with the intuitive and user-friendly nature of a software platform like Caspian for the management of these assets, the floodgates have opened for institutional money to enter the market.”

Caspian is a full-stack crypto asset management platform tying together the biggest crypto exchanges in a single interface. The platform also offers compliance, algorithms, portfolio management, risk and reporting.

Contact Ellen Kelleher at [email protected]