Digital asset trading and lending firm VersiFi has announced a $10 million Series A funding round led by Hunting Hill Global Capital.
Versify provides a “plug-and-trade platform” for trading, borrowing, lending, and custody services from third-party partners. The company said the money will help them launh a new platform that incorporates “institutional grade technology.”
Versify’s co-CEO Sameer Shalaby said that by working with Hunting Hill, they will combine the best of Tradfi and digital assets.
“We are fully committed to developing a digital assets ecosystem that sees market participants working together to minimize risk and provide customers with a robust market structure that helps them trade responsibly.”
Adam Guren, CEO of Hunting Hill, said they believe the value of digital assets is very clear, and they are excited to help by contributing their own expertise.
Concurrent with the funding announcement, Versifi said they had hired former Genesis executive Martin Garcia to help lead the trading and lending business as co-CEO. He will also lead sales for the firm.
Shalaby, who founded VersiFi in 2022, will focus on all non-trading aspects of the business, including the ongoing development of its plug-and-trade platform.
Garcia said that institutional investors are ready for a reliable way to scale their activity in digital assets and they are bringing the kind of technology expected to cater to these firms.
