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Taking a Byte: Redalpine’s Seed round for crypto derivatives market-maker

Byte Trading founders Jan Hoekman and Dominik Vacikar

One of our central investment hypotheses around the swiftly developing crypto market and decentralised finance is that bridging traditional finance and the wealth of new opportunities in crypto finance will unlock plenty of value. Think e.g. our portfolio companies donut and Relai, allowing mass market access to DeFi-powered high-yield savings and bitcoin investing, respectively.

Now, as the crypto market matures and more professional and institutional players engage, the demand for more differentiated products, to tailor risk exposure, increases drastically. As a consequence, we see huge growth in new crypto-derivative products.

Enter Byte Trading (Redalpine Capital VI). In this still early market, the company is building their own crypto-native derivatives tech stack for risk management, execution and liquidity provision across exchanges and products.

We are delighted to back Dominik and Jan, founders of Byte Trading, in tackling this exciting opportunity. Both have extensive experience in building high-performance data systems and have already deployed the Byte tooling profitably in the market for the past few months.

In this round, we are joined by Possible Ventures, L1 Digital and D4 Ventures. The funding will be used to expand the team across engineering, trading and operations and integrate more exchanges. Byte will also partner with additional capital allocators to multiply the volume deployed in the market.

For more information visit Byte Trading's website or read this The Block article.


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