Overview
- Ostium closed a $20 million Series A co-led by General Catalyst and Jump Crypto as part of $24 million in new funding, which the company says brings total financing to $27.8 million.
- Built on Arbitrum, the protocol offers self-custodial perpetual swaps on stocks, commodities, indices and FX with collateral held in segregated smart contracts.
- The company reported $25 billion in cumulative trading volume with more than 95% of open interest tied to traditional markets rather than crypto assets.
- Leadership plans to use the capital to expand beyond crypto-native traders by pursuing the offshore broker market serving investors outside the United States.
- Other participants included Coinbase Ventures, Wintermute and GSR, and the firm was valued at about $250 million according to an unnamed source.