BridgePort has successfully raised $3.2 million in a seed funding round to develop its crypto settlement infrastructure. The funds will be used to expand the team and accelerate product development.
Overview of Funding
The funding round was led by Further Ventures, with participation from notable partners such as Virtu, XBTO, and Blockchain Founders Fund. This capital will help BridgePort address existing capital inefficiencies in the digital asset space.
Technological Features of BridgePort
BridgePort offers middleware that securely connects trading firms, exchanges, and custodians, eliminating the need for prefunding and reducing post-trade settlement risks.
Growing Investor Interest in Niche Crypto Segments
Simultaneously with BridgePort's successful fundraising, Memes Lab has also announced a $2.3 million raise for expanding its SocialFi and memecoin ecosystem. This highlights the rising investor interest in niche areas of the cryptocurrency market.
The funding received by BridgePort indicates the importance of establishing an efficient infrastructure for trading digital assets, which remains a significant challenge for institutional market participants.
