FLUID To Disrupt Liquidity in the Space, Raises $10M in Funding -Breaking
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FLUID Raises $10M to Disrupt Space Liquidity- FLUID received funding in excess of $10 million.
- GSR, 21Shares and Ghaf Capital led the funding.
- FLUID will launch in May 2022.
FLUID, a CeDeFi liquidity broker with an extremely low latency, raised $10M in a financing round that was led by GSR (21Shares), and Ghaf Capital. This will enable the team to achieve their goal of connecting liquidity. By reducing spreads, latency, and ensuring real-time pricing for users, it will help them achieve their goal of connected liquidity.
FLUID is set to be launched in May. It aims to change the way that liquidity in this space works. It also employs AI quant-based modeling to combat inefficiencies due to fragmented liquidity.
Platforms operating in the virtual asset space face fragmented liquidity problems that can cost them multi-trillions of dollars. This will improve liquidity in derivatives, spot trade, tokenized assets and futures.
The FLUID team includes fintech professionals and ex-bankers who have worked at Goldman Sachs (NYSE;), Bank of America(NYSE:), Jefferies and BlackRock (NYSE. Meanwhile, the platform’s CEO and President, Ahmed Ismail, shared that he was delighted to receive the backing of the industry’s top institutional investors and partners, and the help of a world-class dedicated team to create their AI quant-based crypto liquidity aggregation system.
He added:
Current technology to combine virtual liquidity is years behind the mainstream trading desks and hedge funds at financial institutions. This has led to high fees for crypto and long latency. FLUID will solve the many problems that fragmented liquidity presents to virtual assets. This will allow it to transform the industry. FLUID provides institutional investors and retailers with access to the secure, reliable framework that allows them to take part in virtual assets markets.
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