BridgePort, a cryptocurrency over-the-counter (OTC) platform, has secured $3.2 million in seed funding to fuel its growth and build solutions aimed at making institutional crypto trading safer and more efficient.<\/p>\n\n\n\n
The seed round was led by Abu Dhabi-based Further Ventures, with participation from several other prominent investors, including Virtu, XBTO, Blockchain Founders Fund, Fun Fair Ventures, and Humla Ventures.<\/p>\n\n\n\n
According to BridgePort, the fresh capital will help expand its team and further develop technology that addresses growing institutional demand for crypto trading infrastructure that doesn\u2019t rely on traditional exchanges.<\/p>\n\n\n\n
BridgePort\u2019s core mission is to act as a bridge between investors and the crypto markets without requiring traders to pre-fund accounts on exchanges\u2014a process that often ties up capital and exposes firms to exchange risks. Instead, BridgePort offers solutions for real-time messaging and collateral management, helping reduce credit and settlement risks.<\/p>\n\n\n\n
Nirup Ramalingam, CEO of BridgePort, called the $3.2 million raise a \u201cmajor milestone\u201d for the company.<\/p>\n\n\n\n
\u201cWe are grateful to our investors for believing in our vision to build the institutional coordination layer for the off-exchange settlement of crypto that will better connect the ecosystem,\u201d Ramalingam said in a statement.<\/p>\n\n\n\n
Further Ventures Managing Partner Mohamed Hamdy shared why the firm decided to back BridgePort, emphasizing the growing need for safer crypto infrastructure as institutional interest ramps up.<\/p>\n\n\n\n
\u201cBridgePort\u2019s infrastructure is becoming foundational to the next phase of crypto market structure evolution,\u201d Hamdy noted. \u201cTheir mission to solve the problems and risks posed by prefunding and credit fragmentation is going to be vital for the industry\u2019s future.\u201d<\/p>\n\n\n\n
OTC platforms like BridgePort are increasingly seen as a safer alternative for banks and corporations looking to enter crypto markets without committing funds to centralized exchanges. Institutional investors have grown wary of keeping significant sums on exchanges, especially after high-profile security incidents like the hacks at Bybit, DMM Bitcoin, and WazirX, which highlighted the risks of holding assets on centralized platforms.<\/p>\n\n\n\n
Following the Bybit hack, some security analysts even predicted potential freezes across OTC services to stop stolen funds from being laundered off-chain.<\/p>\n\n\n\n
As crypto markets mature and institutions look for better ways to manage risk, companies like BridgePort hope to offer a safer, more efficient path forward.<\/p>\n\n\n\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
BridgePort, a cryptocurrency over-the-counter (OTC) platform, has secured $3.2 million in seed funding to fuel its growth and build solutions aimed at making institutional crypto trading safer and more efficient. The seed round was led by Abu Dhabi-based Further Ventures, with participation from several other prominent investors, including Virtu, XBTO, Blockchain Founders Fund, Fun Fair…<\/p>\n","protected":false},"author":3,"featured_media":9928,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[73,63],"tags":[1377,65,469],"class_list":["post-9926","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","category-crypto-news","tag-bridgeport","tag-crypto","tag-crypto-market"],"yoast_head":"\n