Corner rule, a fintech startup that provides individual and retail cryptocurrency investors with an automated crypto trading platform for their assets, has announced a $ 2.2 million seed funding round.
A range of founders and decorated tech investors participated in the cycle, including Fitbit founder James Park, Twitch founder Kevin Lin and a fund in which Naval Ravikant is an investor, among others. Coinrule also joined the Cohort YCombinator S21.
The new world of commerce
Founded in 2018, by Gabriele Musella, Oleg Giberstein and ZdenÄk HÃ¶fler, Coinrule allows cryptocurrency investors to create and test automated trading strategies so that their assets benefit from market opportunities but also to protect them from adverse events. . It was created with the aim of increasing the accessibility of trading strategies and models, generally the prerogative of investment banks and hedge funds, for everyone. This is because Coinrule provides algorithmic trading without having to learn a single line of code.
Gabriele Musella, Co-Founder of Coinrule commented: âThis funding and membership in the YCombinator program has put us in a good position to fulfill our mission of financial inclusion by giving people the tools to compete in a new world of trading.
Coinrule has grown rapidly over the past 12 months and now has over 13,000 users who trade assets worth Â£ 100million each month.
Become an investment ecosystem
âCrypto trading volumes represent over 10% of US equity trades and there are over 60 million active crypto traders globally. In addition, our information tells us that there are some 360 ââmillion people with crypto assets around the world, 82% of whom want to react quickly to market changes but feel constrained by the lack of means to do so. The opportunity is clear and present for Coinrule to help a range of people with crypto assets generate value and protect their assets. Over the next 5 years, we plan to expand our user base to over 2 million and automate $ 100 billion in crypto transaction volume, âadded Gabriele Musella.
Coinrule’s vision is to become an investment ecosystem that allows users to backtest strategies, copy trades from expert investors in the market, find arbitrage opportunities and automatically find the best prices on all markets. scholarships. Coinrule has already integrated its offering into global crypto exchanges including Coinbase, Binance, Kraken, Bitstamp, among others.
China’s central bank recently announced that all cryptocurrency transactions are illegal, banning digital tokens such as Bitcoin. Cryptocurrency trading has been officially banned in China since 2019, but has continued online through foreign exchanges.
Adi Ben Ari, CEO and Founder of Applied Blockchain: âThe cryptocurrency space has generated more innovation in the past 18 months than the establishment of financial services in two decades. The background to all of this innovation is an open system that thrives on a lack of central control. China is strengthening central control by introducing innovation centrally on its own terms. Each approach has its merits.
âThe balance is letting innovation thrive while placing appropriate and selective controls and measures to manage risk. Part of the challenge is the pace at which innovation and products in this emerging space and funds move. . ”