Amsterdam’s D2X raises €5M to build pan-European institutional exchange for derivatives on digital assets

D2X, an Amsterdam-based fintech company, announced that it has raised €5M funding in a Seed round led by Tioga Capital Partners. 

Other investors, including Flow Traders, Fortino Capital, Picus Capital, Kima Ventures, Philippe Jabre’s family office, Darley Technologies, and angel investors, also participated.

The Dutch company will use the funding to build the first institutional-grade and regulated options and futures exchange for digital assets in Europe.

“Securing our funding round from top-tier investors and future market participants sets up D2X for a successful launch. We will use the funds raised to reinforce our core team with exceptional talents and accelerate the development of the exchange,” says Theodore Rozencwajg, CEO.

What does D2X solve?

According to D2X, institutional demand for digital assets is on the rise, yet the adoption is still limited. Further, it presents many hurdles, such as lack of liquidity, operational risks, and the absence of institutional-grade market infrastructure in Europe.

After experiencing these issues first-hand in late 2020, Theodore Rozencwajg (CEO, former derivatives trader), Don van der Krogt (CTO, former derivatives trader), and Laetitia Grimaud (GC, former capital markets lawyer) founded D2X in Amsterdam. 

Offers plug-and-play solution

The Dutch company aims to provide financial institutions with a capital-efficient and clean exposure to the asset class while mitigating operational and regulatory risks. It offers a plug-and-play solution with a robust risk management model and a reliable trading interface.

“Crypto regulation is currently very fragmented in Europe. At D2X, we adopt a regulatory-first approach and align with the existing EU regulatory framework. In the near future, we will leverage upcoming Crypto regulation to further extend our offering,” says, Laetitia Grimaud, Co-Founder. 

The board of the company counts industry veterans Frederic Colette (COO, formerly Head of Prime Brokerage at Societe Generale) and Ernest van der Hout (CRO, formerly Head of Risk at LCH.Clearnet).