The Peter Thiel Foundation has invested in a startup that is developing a solution to serve large cryptocurrency transactions
Peter Thiel’s Founders Fund expects institutional investors’ interest in the cryptocurrency space to grow. This is evidenced by the investment made by the legendary venture capital company from Silicon Valley, investing an unnamed amount in the startup Tagomi, intending to become a bitcoin broker for family investment companies, high net worth individuals and other large investors, writes The Wall Street Journal..
The startup is at such an early stage of formation that its founders have not yet precisely decided on the final name and development strategy. Tagomi founded by Greg Tusar, former CEO of Goldman Sachs, who was in charge of the e-commerce division.
To date, the startup has managed to raise $ 15.5 million.What part of this amount was provided by the Founders Fund is unknown, but the fund’s partner Napoleon Ta is listed as director of Tagomi in documents sent to the SEC on March 15.
The company intends to develop a tool for trading large volumes of cryptocurrencies by providing access to the order books of many cryptocurrency exchanges, as well as by servicing OTC trades..
Earlier it became known that the Founders Fund, which manages $ 3 billion in assets, can hold hundreds of millions of dollars in bitcoin.
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