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

Upcoming Webinar: Best Practices for Building High-Performance Data Infrastructures

Date: 23 June 2022 Time: 10:00am ET / 3:00pm London / 4:00pm CET Duration: 50 minutes The requirement for high-performance data systems to support trading analytics for hedge funds, high-frequency trading firms and electronic liquidity providers is well established. But the explosion in Big Data over the past several years has expanded the scope of...

BLOG

LSEG Adds PMS, OMS, EMS via $325 Million Tora Acquisition

Continuing on the acquisition trail following its $27 billion purchase of Refinitiv, London Stock Exchange Group (LSEG) has agreed to acquire PMS, OMS and EMS vendor Tora for $325 million, in an all-cash transaction. Tora says the deal will enable Tora to expand and grow its clientele while investing in global infrastructure, product development and...

EVENT

Data Management Summit New York

Now in its 12th year, the Data Management Summit (DMS) in New York brings together the North American, capital markets enterprise data management community, to explore the evolution of data strategy and how to leverage data to drive compliance and business insight.

GUIDE

Complex Event Processing

Over the past couple of years, Complex Event Processing has emerged as a hot technology for the financial markets, and its flexibility has been leveraged in applications as diverse as market data cleansing, to algorithmic trading, to compliance monitoring, to risk management. CEP is a solution to many problems, which is one reason why the...