Tim Draper, Pantera Capital back new crypto derivatives exchange

 

Some of the biggest names in blockchain have thrown their weight behind a new cryptocurrency derivatives exchange, signaling that the next bull market could be driven by institutional investors.

Crypto derivatives platform Globe has raised $3 million in seed investments to launch its Globe Derivative Exchange. The new platform is aimed at bringing institutional investors into the world of cryptocurrency. Early-stage investors in the new venture include billionaire Tim Draper, blockchain investment fund Pantera Capital and venture capital firm Y Combinator.

Pantera executive Paul Veradittakit cited growing institutional interest in crypto as one of the primary reasons why his company decided to invest in Globe.

In a quote shared with Cointelegraph, Veradittakit said:

“We’re seeing a wave of interest in crypto assets from major banks, fintech companies, and portfolio managers. Globe has built the platform and products that these sophisticated market players need and expect (…)…


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