Global digital assets algorithmic market maker, Wintermute Trading, has completed a seed funding round led by Blockchain.com Venture, a venture capital fund and a subsidiary of leading Bitcoin block explorer and cryptocurrency wallet provider, Blockchain.com.

The seed funding round, according to a press release shared with Coinfomania on Feb 10, will help to enhance Wintermute’s technology. It will also be used to empower its team to provide a more liquid, efficient, and professional digital currency market for all traders and market participants.

Although the amount raised was not mentioned, the funding round also saw participation from FBG Capital and other angel investors.

The CEO of Wintermute Trading, Evgeny Gaevoy, explained that “Liquid and efficient markets are vital to accelerating adoption of any new technologies, and nowhere is that more true than in cryptocurrencies.

Being the lead investor, the Managing Partner at Blockchain.com Ventures, Samuel Harrison, will be joining Wintermute’s board of directors, per the report. Blockchain.com’s objective is to contribute to the establishment of an open and accessible financial system and to promote Blockchain use-case beyond finance.

Peter Smith, Co-founder, and CEO of Blockchain.com, said in the report:

We had the pleasure of getting to know the Wintermute team intimately in their capacity as an early partner to the Blockchain.com Exchange. We were impressed with their execution capabilities, which we view as best in class, and developed a conviction that they will become a leading market-making force.

Wintermute Service has extensively grown to attract institutional investors and popular cryptocurrency exchanges such as Binance, Coinbase, Kraken, and Blockchain.com, since its inception in 2017. Wintermute also supports over-the-counter (OTC) trading companies, and other individual crypto projects.

In September 2019, Blockchain.com announced plans to raise a $50 million Venture Capital (VC) fund to provide financial backing for digital currencies and startups in the industry. At that time, Harrison was appointed to head the VC fund.

The company already had an investment in some firms such as Origin Protocol, Coindirect, and Nodle, Coinfomania reported.

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