D2X Secures €4.3 Million Investment
D2X, a cryptocurrency derivatives exchange based in Amsterdam, has successfully raised €4.3 million in new investment, gaining support from prominent investors such as CMT Digital, Circle Ventures, and Canton Ventures. This financial boost aims to advance product development and facilitate the onboarding of institutional clients who are looking for a compliant route into the realm of crypto derivatives trading.
According to Silicon Canals, Charlie Sandor, an Investment Partner at CMT Digital, acknowledged D2X’s initiative in filling significant regulatory gaps in Europe, stating, “With its MTF license and weekend-ready architecture, D2X effectively addresses two critical needs: regulated trading venues and 24/7 access to crypto markets. We’re thrilled to back a team that is raising the bar for institutional crypto trading.”
Funding Round Details
This funding round also saw contributions from existing investors like Point72 Ventures, Tioga Capital, GSR, and Fortino Capital. It follows D2X’s previous success in 2023 when it raised €9.1 million during its Series A financing. Notably, this round of funding coincided with D2X’s distinction as the first entity in the European Union to secure a MiFID-compliant Multilateral Trading Facility (MTF) license for crypto derivatives from the Dutch Authority for Financial Markets (AFM).
About D2X and Its Offerings
Founded by a team consisting of Theodore Rozencwajg, Don van der Krogt, and Laetitia Grimaud, D2X specializes exclusively in institutional-grade crypto derivatives. The exchange currently offers Bitcoin and Ethereum futures denominated in USD and EUR, with options trading set to launch soon. Its infrastructure is designed to facilitate trading every day of the week while adhering to MiFID II regulations, aligning traditional financial institution standards with the continuous trading cadence of cryptocurrencies.
Recently, the firm introduced USD-denominated futures for Bitcoin and Ethereum, catering to an increasing demand from institutions for regulatory-compliant dollar-settled instruments. Rozencwajg shared his enthusiasm, stating, “This funding enables us to expand our product offerings and speed up the onboarding process for Tier-1 institutions. We’re creating a marketplace that provides the trust, transparency, and regulatory oversight these clients need.” With its MiFID regulatory status and real-time USD exposure, D2X is establishing itself as a frontrunner in the European institutional crypto derivatives landscape.
Coinbase’s Recent Developments
In parallel developments, Coinbase has recently launched CFTC-regulated perpetual futures for Bitcoin and Ethereum aimed at US retail traders. These offerings, available through Coinbase Financial Markets, allow traders to access leverage of up to 10x in a compliant onshore environment, featuring low taker fees and operating on a 24/7 schedule. This initiative represents a crucial shift, as it offers U.S. traders a lawful alternative to international platforms, which has been necessary due to past regulatory challenges. Coinbase’s action underscores a significant trend, with U.S. exchanges, including Kraken, expanding their regulatory-compliant derivatives options to better serve retail investors.
