Tagomi Holdings Inc., the digital assets brokerage firm backed by PayPal co-founder and former Trump Administration advisor, Peter Thiel’s venture capital firm, is now officially launched, as per a December 17 press release.
Tagomi offers cross-border execution, capital management, post-trade reporting, custody services, and one-click settlement features. The firm aims to merge the institutional grade services with a structure that investors tend to accept.
CEO of Tagomi, Jennifer Campbell said:
“Our focus is on providing our clients, which include financial institutions, high net worth individuals and other sophisticated digital asset investors, a comprehensive solution that eases the operational challenges associated with trading at scale in this emerging asset class.”
Tagomi raised over $16 million from major industry players including Peter Thiel’s Founders Fund, Collaborative Fund, SV Angel, Joe Lonsdale, Zhenfund, BoxGroup, and others.
In May 2018, the Founder’s fund announced its plans of investing in Tagomi, as reported by WSJ. Thiel back then said Bitcoin has the power of becoming the digital equivalent to gold, also a hedge against market risk.
Greg Tusar, CTO of Tagomi, stated:
“Tagomi applies proven electronic trading solutions that these sophisticated investors have come to expect, and removes the operational hurdles commonly associated with digital asset investing.”
A report on October 18, stated, institutional investors are now rapidly moving towards the cryptocurrency space, as institutional investors replace high net-worth individuals as the biggest buyers of cryptocurrencies over $100,000.
On July 18, Peter Thiel along with cryptocurrency mining hardware billionaire, also the founder of Bitmain, Jihan Wu invested in EOS developer Block.one. The investments led the experts to believe that EOS would surpass Ethereum by a factor of 10. Also, the rumors of Thiel investing $20 million in BTC via Founder’s fund were also circulating.