Crypto prime brokerage August raises $10 million in round led by Dragonfly Ventures

Defi, the peers’ financial system, which uses Blockchain technology, is one of the fastest growing areas of the cryptic industry. It includes prediction markets such as polymarket, NFts such as Trump Digital Trading Cards, and StableCoins, a type of Crypto is designed to be like US dollars.

In August, Crypto-Hocine’s chief broker company that tries to make it easier for investors through one platformed finance. The company has raised $ 10 million to a number of Dragonfly Ventures. Other investors include SCB LIMITED, 6th man ventures and projected enterprises. The August assessment was not revealed in the financing phase.

August is working with large financial institutions, such as fence funds and family offices, which are looking for profitable and returning through their crypto investments, loans, borrowing and trade. This was reported by August Co-author Cantorovich Fortune Which company’s goal is to be the first place, institutional investors?

Before August, a collection of rules and smart contracts, which help traders help make transactions without a centralized organization, want to remove the confusion that needs to be removed. “When you think about the institutions, do you want to get rid of this idea or abstract to both the chains and the protocols? You just want to have one place, “he said.

In August, he strives to connect customers with Defi Networks, which lend to the cryptographic and offers derivatives and signs of trading, including domestic, morpho and non-process. It also aims to help customers control all their positions from one panel.

It makes the Cantorovich company a mediator. However, he says that since August access to customers’ positions, the company can allow customers to pay for their loans, derivatives instead of putting money for each individual position.

August produces most of its income through the distribution of trade, which has given the difference between the price, which marks the price, which is for sale, and pays its customers’ trade fees for each transaction. Cantovich refused to identify the company’s annual income.

August is not the only cryptographic concentrated broker. Coin It has a division that provides special large institutional customers who are known as CoinBase Prime. Falconx is another famous broker in space.

August will use the amount of its last fundraising to build its marketing strategy to hire more employees and develop new technologies. The company raised before 6 MILLION DOLLARS In 2023 during the seeds.

This story was originally shown Fortune.com