According to the FLUID team’s official announcement, its strategic investment round has been completed successfully. A total of $10 million was raised from a group of well-known venture capitalists.
The round was co-led by blockchain-focused venture capital companies GSR, Ghaf Capital, and 21Shares. Apart from improved pricing, the FLUID team is certain that with top VC backing, it would be able to minimise latency for its customers’ operations and cut spreads.
FLUID’s president and CEO, Ahmed Ismail, reveals that his product’s idea is truly unique; it is meant to tackle key challenges in cryptocurrency trading and DeFi operations:
“We are delighted to have the support of major institutional investors, partners, and a world-class dedicated team to help us build our AI quant-based crypto liquidity aggregation system. The technology now used to aggregate virtual liquidity is many years behind that used by traditional hedge funds and trading desks at traditional financial institutions, leading to high fees and delay in the crypto industry. FLUID will transform the virtual assets industry by addressing a number of outstanding difficulties created by fragmented liquidity. In short, we offer retail and institutional investors with a secure, unified platform for participating in the virtual asset market.”
FLUID is a one-stop solution for centralised exchanges, decentralised protocols (DeFis), and non-fungible token marketplaces (NFTs).