Mosdex, a cryptocurrency exchange startup in Finland, has acquired $20 million in funding for its global crypto arbitrage expansion. Evli Bank PLC led a Series A round of funding for Mosdex. Additionally, Lifeline Ventures, NordicNinja VC, and a number of individual investors also participated in the round. The system, which was created by a team of financial, machine learning, and blockchain software engineers, simplifies cryptocurrency arbitrage trading. In 2022, Mosdex intends to begin international expansion with the freshly raised cash. The next step is to put together a selection of items, budgets, and derivative instruments for the market to use..
Mosdex’s European expansion plans
According to Lodurr, the company CEO, the new funds present an opportunity for the company to undergo rapid expansion as long as it maintains its concentration on the high quality of its products and on the pursuit of innovative ways to satisfy the requirements of an expanding client base. The company also intends to grow its operations throughout Europe and beyond. This is in addition to its current markets, which include Germany, Poland, the Czech Republic, Slovakia, and Hungary.
Over the past year, Mosdex has been expanding its international presence and now looks ready and prepared to take advantage of these regions’ potential. Consequently, it is not surprising that the company is currently focusing on growing its arbitrage platform. The crypto business has taken a hit in recent months, but growth opportunities still remain. A market valuation of $1.5 trillion is prompting a new round of investment to meet the rising worldwide demand for crypto services.
Mosdex’s automated cryptocurrency arbitrage tool for cryptocurrency exchanges, users and institutions, has been available since early 2022. Furthermore, the arbitrage platform is pushing forward with the private blockchain era, and the platform is reliable and can manage large transactions in the second part of this blockchain era. Later this year, the company plans to release a crypto arbitrage solution compliant with European cryptocurrency legislation. Also, the company will open a new office in London next year.