Crypto-native danger monitoring and market surveillance supplier, Solidus Labs, has introduced that it closed a $15 million spherical, which got here simply six months after finishing a $20 million A-round in Might 2021.
Liberty Metropolis Ventures is main the funding spherical, which additionally includes contributions from Exor Seeds and GSR, one of many world’s main cryptocurrency buying and selling firms.
Solidus Labs, named by Citigroup as “category-definer for crypto market surveillance,” stated it could be using the extra capital to deal with rising demand for superior crypto-native danger monitoring options.
The corporate’s options allow the world’s main crypto platforms, together with a fast-growing section of banks and conventional monetary establishments, to “handle mounting regulatory strain to enhance market integrity and client safety in digital asset markets globally.”
The New York-headquartered firm has managed to double its skilled group for the reason that begin of this 12 months and plans to speed up progress plans and additional increase its product providing to new use-cases together with decentralized finance (DeFi) platforms and regulation enforcement. The agency reviews “a constant 400% inbound demand enhance all through 2020 and in 2021 thus far.”
Asaf Meir, Solidus Labs’ Founder and Chief govt, acknowledged:
“Tightening regulation, intensifying enforcement, institutional adoption, and a retail demand for extra protections all imply that the important thing to crypto progress is best danger monitoring and compliance, and we’ve been feeling that by way of our pipeline. Merely put, this strategic spherical will enable us to serve extra purchasers sooner and handle many new use-cases within the DeFi and NFT danger frontiers, which require Solidus’ distinctive mixture of crypto know-how and experience in conventional buying and selling dynamics and manipulation typologies.”
Solidus Labs maintains head places of work in New York, with further places in Washington, D.C., Tel Aviv, and London.
Meir established the agency again in 2018, bringing collectively an expert group of ex- Goldman Sachs engineers and cybersecurity consultants to be able to handle the regulatory, danger and compliance necessities within the crypto and digital property / conventional monetary sector.
Emil Woods, Accomplice at Liberty Metropolis Ventures, which additionally has investments in main companies constructing the infrastructure for crypto markets like Paxos, Lukka, Figment, Fireblocks and Consensys, remarked:
“Solidus was prescient in growing the mandatory instruments for market surveillance and danger monitoring that conventional monetary companies and regulators require as they enhance their participation in crypto asset markets. The agency is well-positioned to fulfill the burgeoning wants of regulatory businesses, companies increasing their presence in crypto, in addition to new entrants by way of groundbreaking crypto-native know-how mixed with a standard finance background.”
The corporate has appointed ex-CFPB Director Kathy Kraninger as VP Regulatory Affairs, and its traders and advisors reportedly embody skilled monetary regulators corresponding to former CFTC Chair Christopher Giancarlo, former SEC Commissioner Troy Paredes, former CFTC Chief Innovation Officer Daniel Gorfine, and entrepreneurs corresponding to StarCompliance Founder Marc Epstein, Worldwide Securities Alternate Founder David Krell, and AngelList Founder Naval Ravikant.