Cross-Domain Expansion! Data Provider Skew Secures $5 Million in Funding, Launches Compliant Trading Platform

skew, dedicated to providing real-time charts for crypto derivatives, recently announced that it has completed a $5 million financing round and will launch the trading platform skew Trading. In a press release, skew stated that it will collaborate with the UK regulatory broker Kyte to launch a platform that complies with professional derivatives trading standards.

Since its launch in September last year, skew has been known for providing professional data charts for major mainstream crypto derivatives exchanges, primarily offering data analysis services for options and futures, including traditional trading platforms geared towards institutional investors such as CME, Bakkt, and Deribit.

skewTrading

skew. announced the launch of the trading platform skewTrading on their official Blog. The platform is aimed at professional investors and will connect institutional investors with liquidity providers in the OTC market, including spot, futures, and options.

skew. initially supports the Chicago Mercantile Exchange (CME Group), offering bulk trading of CME's Bitcoin futures, options, and more. In the announcement, skew. stated:

With the launch of skewTrading, our goal is to provide users with liquidity from the same platform. We position skew as the gateway for professional market participants to enter the cryptocurrency market, allowing them to access real-time data analytics and trading platform through the same account.

It is understood that skew will collaborate with the UK-based regulated brokerage firm Kyte Broking Limited (Kyte) to launch a platform that meets professional derivative trading standards. In 2019, Kyte executed over $10 trillion in exchange-traded derivative contracts and served approximately 3,000 institutional clients.

In addition, under this strategic partnership, skew. becomes Kyte's appointed representative by the UK Financial Conduct Authority (FCA), allowing skew. users to trade derivatives in a regulated environment, and skew. will benefit from Kyte's membership with the National Futures Association, enabling it to serve US clients.

A Growing Data Analytics Platform

Based in London, skew. was founded by Goh and Tim Noat, the latter being a former derivatives trader at JPMorgan and Citibank. Since its establishment in September 2018, the company has hired employees from financial institutions such as UBS, Goldman Sachs, and Deutsche Boerse, and has raised $7 million in strategic funding.

The latest $5 million funding round was led by London-based venture capital firm Octopus Ventures, with additional investments from Digital Currency Group, and existing investors Firstminute Capital and Seedcamp.

With the funding secured, skew. stated that it will use the funds to expand its technical team at the London headquarters, mentioning:

We believe our expertise in cryptocurrency derivatives, combined with Kyte's experience operating in regulated markets, will make skew. the preferred choice for financial institutions looking to enter the cryptocurrency market. With the prevalence of cloud and robust APIs, a very lean team can now build reliable modern financial services, presenting an excellent opportunity to establish fintech startups.