"Ostium, a decentralized exchange founded by two Harvard graduates, has raised a $20 million Series A round led by the marquee venture outfit General Catalyst and the crypto arm of the quantitative trading firm Jump Trading, Kaledora Kiernan-Linn, cofounder and CEO, told Fortune. Ostium lets users bet on real-world assets like stocks, metals, oil, and some cryptocurrencies. Traders can take on higher risk through perpetual futures. Unlike traditional futures, these derivatives don't expire on a set date-assuming traders maintain the necessary margin requirements."
"Other participants in fundraise included Coinbase Ventures as well as the crypto market making firms Wintermute and GSR. The round valued the startup at about $250 million, according to a source familiar with the matter, who asked for anonymity to discuss private business dealings. Ostium had previously raised a total of about $8 million. "We live in a world where traditional financial institutions and financial products still have a lot of relevance,"
Ostium raised a $20 million Series A led by General Catalyst and Jump Trading's crypto arm, with participation from Coinbase Ventures, Wintermute, and GSR. The funding round valued the startup at about $250 million, and the company had previously raised roughly $8 million. Ostium operates a decentralized exchange that enables users to trade perpetual futures on real-world assets such as stocks, metals, oil, and certain cryptocurrencies. Perpetual futures do not have fixed expiration dates as long as margin requirements are met. Ostium employs about 15 people and competes in a crowded market of perpetual-focused decentralized exchanges.
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