London-based data analytics platform raises $5m and announces new offering
Skew, a data analytics platform for cryptocurrency markets, has revealed a $5 million funding round and launched skewTrading to provide its institutional users with access to liquidity across crypto capital markets.
The new funding round was led by fintech-focused VC Octopus Ventures. Skew has raised $7mln in funding since its inception.
The funds will be used to expand further its London-based engineering team and strengthen its distribution capabilities.
skewTrading is a new trade execution and electronic brokerage platform, connecting institutional investors with liquidity providers across listed and over-the-counter (OTC) products, ranging from spot to futures and options.
Emmanuel Goh, Skew’s CEO, said: “The industry remains in its infancy with the “institutional moment” for crypto still ahead of us. We want to position skew as the gate to the cryptocurrency markets for professional market participants where they can access real-time analytics and liquidity networks using the same account.
The platform makes use of existing innovative clearing and settlement infrastructure to provide an improved experience mitigating credit risk.
Goh added: “We are excited about this unique partnership with Kyte Broking. The combination of our expertise in cryptocurrency derivatives with their experience operating within regulated traditional capital markets will allow skew to be a natural choice for financial institutions looking to enter the cryptocurrency markets.”