About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

Mirror Blockchain-Based Trading Platform Gets $8.8 Million Funding

Subscribe to our newsletter

By Zoe Schiff

The idea that blockchain technology can aid in the development of real world trading technology gained more credence this month with the news that Mirror – a trading platform operator formerly known as Vaurum – has received $8.8 million in Series A funding from investors led by Route 66 Ventures.

San Francisco-based Mirror is a peer-to-peer trading platform that is attempting to democratise access to financial markets using blockchain technology. A blockchain is a publicised log of Bitcoin flows that shows evidence for Bitcoin transactions. The technology that Mirror has implemented creates a public database to confirm transactions and currencies.

Using blockchain technology, Mirror enables individuals and firms to produce and exchange financial contracts. This peer-to-peer contract creation and settlement means that all transactions are cleared on the Bitcoin blockchain with no intermediary involved and no central custodial risk.

According to Avish Bhama, co-founder and CEO of Mirror, “There is an unbundling of the financial services industry that’s occurring right now, and we see an enormous opportunity to provide advanced, more efficient services for risk management and hedging. We’re building tools for traditional financial assets, leveraging the Bitcoin protocol.”

Other significant contributors with stakes in Mirror include Battery Ventures, Crosslink Capital, RRE Ventures and investor Tim Draper. Under the most recent funding arrangement, Route 66 Ventures’ General Partner, Pascal Bouvier, will be joining Mirror’s board.

“We plan to use this new financing to continue to build out our engineering team and scale international operations,” says Bhama.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: Transforming Data Experiences in Quantitative Research and Trading

For quantitative researchers and quant trading teams at banking and capital markets firms, the ability to access, integrate, and share data is critical. Data and how teams collaborate with data underpins the ability to generate alpha, perform execution analyses, and provide a modern and differentiated client experience. However, for most banks, legacy technology stacks and...

BLOG

Drilling Down on the IPC and Kaiko Partnership – Perspectives from the CEOs

Communications and connectivity solutions provider IPC recently announced a partnership with Kaiko, the cryptocurrency market data provider, to deliver enterprise-grade data to IPC’s Connexus Crypto ecosystem. Launched last year, Connexus Crypto is IPC’s flagship solution for cryptocurrency trading, designed to support complex trading strategies. The solution enables users to implement cryptocurrency arbitrage, providing low latency...

EVENT

ESG Data & Tech Summit London

The ESG Data & Tech Summit will explore challenges around assembling and evaluating ESG data for reporting and the impact of regulatory measures and industry collaboration on transparency and standardisation efforts. Expert speakers will address how the evolving market infrastructure is developing and the role of new technologies and alternative data in improving insight and filling data gaps.

GUIDE

ESG Handbook 2023

The ESG Handbook 2023 edition is the essential guide to everything you need to know about ESG and how to manage requirements if you work in financial data and technology. Download your free copy to understand: What ESG Covers: The scope and definition of ESG Regulations: The evolution of global regulations, especially in the UK...