San Francisco, CA – Brine Fi, a crypto trading execution platform provider, today announced the closing of a $16.5 million Series A funding round led by Pantera Capital. The round also included participation from Elevation Capital, Starkware Ltd, Spartan Group, Goodwater Capital, Upsparks Ventures, Protofund Ventures, and angel investors.
The funding will be used to expand Brine Fi’s decentralized exchange (DEX) for institutions and high-frequency traders. The platform is designed to address the shortcomings of traditional DEXs, such as high trading fees, price slippage, transaction fees, liquidity issues, the absence of an order book, transaction delays, and an inability to provide privacy on orders causing frontrunning attacks.
“We are excited to partner with Pantera Capital and our other investors to accelerate the development of our DEX and bring it to more institutions and high-frequency traders,” said Bhavesh Praveen, CEO of Brine Fi. “The demand for a decentralized trading platform that addresses the needs of these sophisticated traders is growing rapidly, and we are well-positioned to capitalize on this opportunity.”
Brine Fi’s DEX is able to execute orders in milliseconds while remaining fully non-custodial. This means that traders retain full control of their assets, even when they are trading on the platform. The platform also uses zkP (Zero Knowledge Proofs) technology, powered by StarkWare, to provide privacy on trading positions. This helps to prevent frontrunning attacks, which can give some traders an unfair advantage over others.
In addition to its low trading fees and high performance, Brine Fi also offers a number of other features that are attractive to institutions and high-frequency traders. These features include:
- A deep liquidity pool
- A variety of order types
- Advanced charting and trading tools
- 24/7 customer support
Brine Fi is a decentralized trading platform that addresses the needs of institutions and high-frequency traders.
Deal Table for Brine Fi
| Key People | Investors | Amount Invested | Sector | Funding Round |
|---|---|---|---|---|
| Bhavesh Praveen, Ritumbhara Bhatnagar, Shaaran Lakshminarayanan | Pantera Capital, Elevation Capital, Starkware Ltd, Spartan Group, Goodwater Capital, Upsparks Ventures, Protofund Ventures and angel investors | $16.5 million | Crypto | Series A |
