Vega, a decentralized trading technology startup, announced on Wednesday it secured $5 million through its latest funding round, which was led by Pantera Capital. Founded in 2018, Vega describes itself as a technology protocol that is building an open, blockchain-based public network for fully automated end-to-end trading and execution of financial products.
“We believe in transforming the financial system, changing the dynamics of power and forming part of a wave of change that could radically alter the operation of markets and their relationship with society. The decentralized network, secured with proof-of-stake, will facilitate fully automated, end-to-end margin trading and execution of complex financial products. Any participant will be able to build a market on Vega’s infrastructure.”
Speaking about the company, Barney Mannerings, Founder and Shareholder of Vega Holdings Limited, stated:
“We support the right to collaborate and trade freely. Privileged institutions and gatekeepers have for too long kept the financial system rigid and rigged in their favor. It is neither desirable nor necessary for market participants to be subject to profiteering, monitoring, and control by those privileged institutions.”
Paul Veradittakit, Partner at Pantera Capital, went on to add:
“In Vega, we see a project with the potential to disrupt and transform the financial landscape with decentralized margined products. The team’s vision for the future of finance is a level playing field in which all people can participate. That vision is integral to the blockchain ethos and represents everything we are fighting to enact.”
Vega is supported by Xpring (Ripple), Hashed, NGC Ventures, gumi Cryptos Capital, Rockaway Blockchain, KR1, Eden Block, Focus Labs, Greenfield One, Monday Capital, RSK Ecosystem Fund, and select private investors