Offering trading infrastructure and building out regulated brokerages, Architect Financial Technologies raised capital to launch a U.S. derivatives brokerage.
What Happened: Architect Financial Technologies secured $12 million in capital in its latest funding round, bringing its total funding to $17 million since its inception in January 2023, as per its official release.
The current round was led by BlockTower Capital and Tioga Capital and attracted new investors including CMT Digital, ParaFi Capital, A Capitaland Twelve Below.
Coinbase Ventures, SV Angel, Third Kind, SALT Fundand US Digital Trust are the companys founding investors.
Why It Matters: Significant developments in the U.S. derivatives and tokenized asset markets prompted the company to pursue a second funding round, which will support the launch of Architect's U.S. derivatives brokerage for both retail and institutional investors, as well as expansion in EU and APAC regions. The derivatives brokerage will operate through the CFTC-regulated subsidiary Architect Financial Derivatives.
At theBenzingaFuture of Digital Asset conference in November 2023, former FTX US PresidentBrett Harrison, now the founder and CEO of Architect Financial Technologies, saidthat Architect aims to bridge the gap between high-tech infrastructure and other market participants.
Read Next: Bitcoin Could Reach $50,000 To $55,000 By Q1 2024 If This Happens: Former FTX US President
Photo: Shutterstock
