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Tritum secures $1.1 million in funding round to boost institutional digital asset usage

Tritum Inc, a Toronto-based supplier of digital asset liquidity services, said on Tuesday, May 31st, that it had raised $1.1 million in an initial funding round.

Tritum to support digital asset markets 

Tritum stated that the new investments would be used to accelerate the growth of the throughput and capacity of each of its current operating companies. The company also announced that it will utilise the new funds to extend its position in data, analytics, and the issuance of trading products based on its own indexes and methods.

Tritum offers technology that helps to support digital asset markets and infrastructure. It further stated that the company has created an extremely scalable mechanism for low-cost liquidity. The firm is also interested in the digital asset sector in financial markets. Tritum claims to have linked with more than 30 different trading places so far.

Blocktane, a worldwide crypto exchange with a large presence in Brazil, and also Vesi, a high-frequency proprietary dealer and liquidity provider, are among its current functioning businesses.

According to Tritum, Vesi has access to over 30 exchanges and focuses on market making on order book-based DEX and CEX exchanges. It also includes contractual market making for exchanges and borrowers desiring competitive liquidity. 

Blue Node Capital, Nabais Capital, and Loopring, the Ethereum Layer 2 scaling solution project, and also a number of independent investors, participated in the round.

About Tritum

Tritum, was launched in 2019. It was developed to provide high-performance and top-performing services for digital asset markets. Tritum intends to utilize innovative efforts in the near future through Vesi and Blocktane, including solutions in credit and custody, web3 data, and complex derivatives.

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