SEC Registered Crypto Broker-Dealer BitOoda Secures $7M Seed Funding
December 25, 2019
SEC Registered Crypto Broker-Dealer BitOoda Secures $7M Seed Funding
December 25, 2019

BitOoda the United States-based cryptocurrency brokerage recently secured $7 million funding from major investors including former senior investment executives at JPMorgan.

On Dec. 23 an official announcement was made on the funding. BitOoda is the leading digital asset financial services platform that combines digital finance and applied science.

BitOoda’s new seed round featured:

  • Gary Ross, founder of international energy analytics firm PIRA Energy. Gary is the former head of global oil analytics and chief energy economist at S&P Global Platts.
  • Roy Salame, former managing director, and head of global investment opportunities group at JPMorgan
  • Calvin Schlenker, former senior executive at British Petroleum

BitOoda Registered With US SEC

Founder and CEO of BitOoda, Tim Kelly noted that seed round unlocks major growth opportunities including the company’s considerations to expand operations both in the U.S. as well as Asia and Europe.

The firm distinguished itself by designing and executing two major products:

  • financial swap the BitOoda Difficulty
  • physical hashpower contract the BitOoda Hash
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The firm’s operations include registration as a broker-dealer with: The U.S. Securities and Exchange Commission and the Financial Industry Regulatory Authority, as well as registration as an introducing broker with the Commodity Futures Trading Commission and the National Futures Association.

On Dec. 23, BitOoda published its recent Global & Regulatory Analysis, outlining a set of U.S. bills known as the Crypto-Currency Act of 2020 is the “most promising U.S. regulatory development in recent memory.”

The firm wrote:

“In our view, this is precisely the type of law that could enable executive branch agencies to not only better coordinate their efforts, but also to move beyond the 1930’s laws to which they are currently tied in terms of interpretation and application to digital assets.”

Source: Cointelegraph | Business Wire


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