Anboto Labs, a Hong Kong-based provider of crypto trading tools, has raised $3 million in funding and launched an institutional-grade non-custodial trading platform, the company said.
Anboto said in a statement shared with The Block that it secured the $3 million investment in the third quarter of this year from investors including Kronos Ventures, Cherry Crypto, Mechanism Capital, XBTO and Matrixport.
The new money comes on top of the $1.9 million the company raised last year, bringing its valuation to $35 million, Guillaume Forcade, co-founder of Anboto, told The Block. “We’ve been monetizing since day one and today we’re excited to introduce our execution platform to a broader audience of experienced traders,” said Forcade. “With the public launch of our platform, Anboto can now scale to support thousands of merchants simultaneously.”
Anboto said the newly launched platform underwent an 18-month closed beta, recording a trading volume of $4 billion across 20 exchanges and blockchain networks.
Anboto offers execution algorithms – such as TWAP, VWAP and Iceberg – to provide optimal pricing and improved execution, the statement said. It also allows users to sign in without the know-your-customer process, set up multi-factor authentication and whitelist IP addresses to improve security, the company said.
Over the next few months, Anboto said it plans to expand its trading features, such as non-custodial prime services, in an effort to “democratize access to institutional execution tools for all crypto traders.”