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HomeFunding UK-based Rho Labs Secures $2.2M in Pre-Seed Round Funding

[Funding alert] UK-based Rho Labs Secures $2.2M in Pre-Seed Round Funding

UK-based Rho Labs secures $2.2M in pre-seed round funding. Speedinvest led the round, and Keyrock, Re7 Capital, Daedalus Collective, and Dmitry Tokarev also invested.

UK-based Rho Labs secures $2.2M in pre-seed round funding. Speedinvest led the round, and Keyrock, Re7 Capital, Daedalus Collective, and Dmitry Tokarev also invested.

The funds will be utilised by the company to grow both its operations and its clientele. Under the leadership of its founder and CEO, Alex Ryvkin, Rho Labs uses a margin engine and a proprietary concentrated liquidity Virtual Automatic Market Maker (vAMM) to facilitate on-chain rates trading.

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Users can trade rates including perpetual financing rates and staking rewards with great capital efficiency with no counterparty risk around the clock.

To provide institutional cryptocurrency traders with the same benefits, the company wants to set up a market that is capital-efficient for rates related to cryptocurrencies, such as funding rates, staking rates, and digital asset lending rates.

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Olga Shikhantsova, a Speedinvest partner, stated. “Interest rate derivatives are a common tool utilised by market players worldwide to profit from or effectively hedge against potential fluctuations in interest rates. We are eager to observe how blockchain technology will affect capital markets in the future”.

About Rho Labs

The first institutional grade on-chain interest rates venue was founded by Alex Ryvkin. Rho is motivated by the desire to provide experienced and institutional traders in DeFi with access to a wide variety of novel trading tactics. They will be making a number of interesting announcements about collaborations and advancements over the next few weeks.

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