LN Markets closes pre-seed round with Bitfinex, Arcane Crypto & Fulgur

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Paris-based bitcoin derivatives exchange LN Markets has raised a pre-seed funding round in a bid to boost its project forward with the collaboration of digital asset trading platform, Bitfinex, along with the participation of Arcane Crypto and Fulgur Ventures. Built on top of the Lightning Network, LN Markets is a trading platform aiming to create a new experience for traders and help them connect to financial markets.

“We are very happy with the group of investors as they have a deep understanding of the space and can add massive value to our company,” said Côme Jean Jarry, Co-Founder at LN Markets. “With their investment and backing, we will be able to accelerate our development and offer new trading experiences to our users. Bitcoin is both a financial asset and a very powerful financial infrastructure, and we intend to develop both aspects of it.”

“This is one of our first public investments and underlines our support for the Lightning Network,” said Paolo Ardoino, Chief Technology Officer at Bitfinex. “When we look at a project such as LN Markets, we see a direct application of the technologies that we love. It is therefore important for us to provide funding and to participate in such an innovative venture.”

LN Markets is developed by bitcoin start-up ITŌ by Côme Jean-Jarry, Victor Afanassieff, and Romain Rouphaël. The company utilises the Lightning Network, thus minimising the need for relying on the exchange as a custodian. The platform also avoids costly and slow on-chain transactions to improve a trader’s ability to respond quickly to margin calls on exchanges.

“Having used LN Markets since launch and been in conversations with the team for a while, I am very comfortable that this is something that can get really big,” said Torbjørn Bull Jensen, CEO at Arcane Crypto. “Bitcoin is ideal as a collateral asset, and by leveraging lightning payments, LN Markets position themselves at the cutting edge of the new financial system evolving around bitcoin.”