Crypto brokerage LondonLink has raised £510,500 on a securities offering on Seedrs. According to the offering page, 140 investors participated in the sale of convertible security that holds a 30% discount to a future priced funding round.
LondonLink securities are offered under the Seedrs Nominee structure and are secondary market approved. For larger investors starting at £25,000, a direct investment is available (no nominee).
LondonLink is a smaller crypto trading platform that has been in business since 2013. LondonLink is a Gibraltar-registered VAAP (Virtual Asset Arrangement Provider) providing OTC trading services. The company reports more than 52,000 trades generating £55+ million in trading volume. LondonLink says it can handle any size trade.
The company reports EBITDA profitability between December 2022 to February 2023 and reports 11,000+ users having grown by 57% in recent months.
To quote the offering page:
“LondonLink aims to become the dominant brokerage for smart money to trade and manage crypto assets. Our mission is to improve the risk-adjusted return of crypto asset investing to deliver higher performance for smart money. Brokers exist for most assets and LondonLink generates revenue by arbitraging the ‘spread’ between institutions and retail clients. We get institutional pricing for crypto assets and charge a premium for delivering value-added services to a retail client base. We buy wholesale and sell retail.”
As you may anticipate, the additional funding will be used to grow the platform and offer additional services like a custodial license. In September 2022, LondLink submitted an application for Distributed Ledger Technology (DLT) Provider Permission from the Gibraltar Financial Services Commission. The expectation is for a license to be approved in September 2023.
Today, for digital asset trading, it is all about compliance and being approved by regulators.
You may view the LondonLink website here.
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