The appetite for decentralized finance has grown as major players continue to invest in the area.
FLUID, a one-stop solution for liquidity aggregation, said Wednesday it has raised $10 million in a funding round led by GSR, one of the most successful early-stage ventures.
The round was also backed by reputable blockchain-focused venture capital firm Ghaf Capital.
FLUID Finance Finds Support
In recent years, blockchain and digital assets have been the focus of attention.
However, this disruptive technology is still in its early stages. The new digital market has grown dramatically in recent years and is becoming more sophisticated by the day.
The amount of liquidity required for trading has increased dramatically, as has the amount of data available for this purpose. The industry continues to face a number of challenges, including information asymmetry, excessive latency, and a lack of transparency.
The lack of virtual asset liquidity remains a significant concern for exchanges, traders, token issuers, and market makers.
Professional crypto traders cannot efficiently access global liquidity or locate the best global pricing to find the best global prices to increase profits.
Market fragmentation is one of the primary reasons for lack of liquidity.
Making Market Better
FLUID is on a mission to tackle these major challenges in crypto trading and the DeFi sector by lowering spreads and latency and providing high throughput.
The funding will help facilitate the next stages of the projects, and level up transactional experience for retail investors as well as business investors. FLUID aims to deliver users access to best real-time rates and efficient liquidity using AI quant-based models.
FLUID’s President and CEO, Ahmed Ismail, underlines that the unique concept and efficient practice of the system is a game-changer for the virtual assets industry in liquidity aggregation.
“We are delighted to have the backing of top institutional investors, partners, and the involvement of a world-class dedicated team to build our AI quant-based crypto liquidity aggregation system. The current technology used to aggregate virtual liquidity is many years behind that used by mainstream hedge funds and trading desks at traditional financial institutions, leading to high fees and high latency in the crypto industry. FLUID will transform the virtual assets industry by solving a number of combined challenges that arise from fragmented liquidity which remain unresolved today. In effect, we provide retail and institutional investors access to a secure, robust framework for participation in the virtual assets market.”
Data Makes it Work
AI quant-based solutions is the key feature that sets FLUID stand out in the virtual assets market. It grants high throughput, ultra-low latency and costs while ensuring no counterparty risk.
The project aims to shape the future of liquidity aggregation by introducing cutting-edge technology that combines machine learning and quantitative-based methodologies, delivering actual value to the high-frequency trading market.
The human components are critical to achieving that purpose.
The team at FLUID includes experts of diverse backgrounds. They are former banking executives and fintech professionals from Bank of America, Goldman Sachs, BlackRock, and Jefferies.
FLUID is building an end-to-end liquidity aggregation platform that will help bring transparency and efficiency to the market.
The goal is to maximize liquidity across a variety of trading platforms, such as spot trading, derivatives, futures, synthetics, tokenized assets, and security token offers.
Recognizing DeFi, CeFi, NFTs, and other tokenized assets as the future of liquidity aggregation will help to solve this challenge, benefiting both retail and institutional markets.
FLUID’s Chief Technology Officer, Jason Jiang, is responsible for the engineering operations and technical developments.
With 23 years of experience at Goldman Sachs and BlackRock, he plays an important role in the development of cutting-edge solutions based on machine learning and quantitative techniques.
FLUID’s launch is scheduled in May of this year, according to the company.