Deribit’s parent company, Sentillia, has spearheaded a $4.4 million seed funding round for the Netherlands-based cryptocurrency exchange Finst. This oversubscribed investment will enable Finst to broaden its product offerings and pursue international expansion.
Since its launch earlier this year, the Dutch exchange has already attracted thousands of active users by providing cryptocurrency trading at fees averaging 82% lower than eight other exchanges registered with the Dutch central bank.
One of the key products in Finst’s pipeline aims to “radically simplify” access to the crypto market for retail investors, according to the exchange’s recent announcement. This focus on making cryptocurrency trading more accessible aligns with Deribit’s support for a platform targeting mass-market traders and investors. As one of the world’s largest crypto derivatives exchanges, Deribit boasts a daily trading volume exceeding $750 million.
Finst’s co-founder and CEO, Julien Vallet, expressed the company’s ambitious goals, stating, “Europe needs a first-class cryptocurrency exchange which is highly secure [and] fully transparent.” He further emphasized the strategic importance of the partnership, adding, “Having one of the largest crypto derivatives exchanges in the world as a shareholder brings us one step closer to achieving our ambition.”