New York-based cryptocurrency brokerage and trading platform Tagomi Holdings raised $12 million in its latest funding round from investors including the Yale-backed Paradigm Fund, the company confirmed in a press release on Mar. 4.
“We are excited to partner with investors who have experienced first-hand, the frustrations around the lack of infrastructure, and work toward our shared vision of building next generation robust trading technology, so that clients can focus solely on developing their strategies,” Greg Tusar, co-CEO of Tagom and former Goldman Sachs executive, commented in the press release.
Speaking to Bloomberg in an interview on Monday, Tusar noted the complex process involved in launching and supporting the nascent market. He said:
“I think one of the challenges for institutions has been you have to assemble all of the pieces yourself.”
Earlier today, Cointelegraph reported on how New York Stock Exchange owner Intercontinental Exchange’s Bakkt platform had reportedly completed an equity deal with Starbucks, which will see the coffee giant contribute to the cryptocurrency platform’s merchant on-ramp.