Amnis Ventures backs CloseCross Raises $3 Million USD to Transform Financial Derivatives Market

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Multi-party, decentralized derivatives trading platform CloseCross, has raised $3 million from Amnis Ventures, a privately owned venture fund based in Houston, Texas. 

Vaibhav Kadikar, Founder and CEO of CloseCross, said:

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“The vast majority of people are prevented from participating in the global derivatives trading market through a combination of cost and complexity. The support of Amnis Ventures brings us one step closer towards realizing our vision of a valid, fair, and transparent alternative to the current derivatives market, and proves crucial to the continued development of the CloseCross platform and our ongoing efforts to get it into the hands of as many people and partners as possible.”

CloseCross, now with a post-money valuation of $60 million,  is committed to a disruption of the current financial derivatives market by deploying patented multi-party settlement mechanisms and proprietary algorithms. Its aim is to create a derivatives environment where market participants enter collective smart contracts instead of traditional one-to-one contracts. CloseCross’ testnet application is currently available in beta in 140 countries across both iOS and Android platforms.

Amnis Ventures, a private investment company, was founded in 2013 and focuses on high growth technology, fintech, and energy companies. Manuel Silva III, President of Amnis Ventures, will join the CloseCross Board of Directors effective immediately.

Commenting on the investment, Silva said:

“Multi-party derivatives trading is a compelling development and represents a real paradigm-shift for the market, potentially opening it up to participants from around the globe for whom traditional derivatives trading is both too expensive and too complex. On commercial launch and post regulatory approvals, CloseCross will make it easier for people to participate in trades by helping to reduce unquantified risk, making trading up to 90% cheaper, and providing unprecedented transparency on market prediction evolution in real-time. The platform’s 3-click system will enable participants to quickly and easily commit funds – an innovation with significant market potential. We are proud to support CloseCross’ development and its goal of revolutionizing and democratizing access to derivatives trading.”

For more information, visit the CloseCross at https://www.closecross.com

About Richard Kastelein

Founder and publisher of industry publication Blockchain News (EST 2015), a partner at ICO services collective Token.Agency ($750m+ and 90+ ICOs and STOs), director of education company Blockchain Partners (Oracle Partner) – Vancouver native Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He sits on the advisory boards of some two dozen Blockchain startups and has written over 1500 articles on Blockchain technology and startups at Blockchain News and has also published pioneering articles on ICOs in Harvard Business Review and Venturebeat. Irish Tech News put him in the top 10 Token Architects in Europe.

Kastelein has an Ad Honorem - Honorary Ph.D. and is Chair Professor of Blockchain at China's first Blockchain University in Nanchang at the Jiangxi Ahead Institute of Software and Technology. In 2018 he was invited to and attended University of Oxford's Saïd Business School for Business Automation 4.0 programme.  Over a half a decade experience judging and rewarding some 1000+ innovation projects as an EU expert for the European Commission's SME Instrument programme as a startup assessor and as a startup judge for the UK government's Innovate UK division.

Kastelein has spoken (keynotes & panels) on Blockchain technology in Amsterdam, Antwerp, Barcelona, Beijing, Brussels, Bucharest, Dubai, Eindhoven, Gdansk, Groningen, the Hague, Helsinki, London (5x), Manchester, Minsk, Nairobi, Nanchang, Prague, San Mateo, San Francisco, Santa Clara (2x), Shanghai, Singapore (3x), Tel Aviv, Utrecht, Venice, Visakhapatnam, Zwolle and Zurich.

He is a Canadian (Dutch/Irish/English/Métis) whose writing career has ranged from the Canadian Native Press (Arctic) to the Caribbean & Europe. He's written occasionally for Harvard Business Review, Wired, Venturebeat, The Guardian and Virgin.com, and his work and ideas have been translated into Dutch, Greek, Polish, German and French. A journalist by trade, an entrepreneur and adventurer at heart, Kastelein's professional career has ranged from political publishing to TV technology, boatbuilding to judging startups, skippering yachts to marketing and more as he's travelled for nearly 30 years as a Canadian expatriate living around the world. In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, 'The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, Netherlands where he's raising three teenage daughters with his wife and sailing partner, Wieke Beenen.

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