When a trader buys a digital asset on one exchange and instantly sells it on another, he or she is engaging in cryptocurrency arbitrage.
Mosdex, a bitcoin arbitrage platform situated in Helsinki, Finland, has acquired $20M in funding. Evli Bank PLC led the investment, which included Lifeline Ventures’ venture branch, NordicNinja VC, Petteri Suorsa, Magnus Eskelinen, and Jouni Väisänen.
Mosdex intends to start expanding worldwide in 2022 with freshly raised capital. The company intends to use the European market as its initial target. Later this year, the company will also develop a bitcoin arbitrage solution that complies with European cryptocurrency legislation.
Mosdex stated that it intends to expand its arbitrage solution throughout Europe, beginning with Germany, Poland, the Czech Republic, Slovakia, and Hungary. The money will be used to open offices in New York, Hong Kong, Singapore, London, Tokyo, and Dubai, among other cities.
Mosdex, which was founded in 2022 by Lodurr, provides a platform for cryptocurrency exchanges, customers, and institutions to automate cryptocurrency arbitrage platforms. The solution, which was created by a team of engineers with backgrounds in banking, machine learning, and blockchain engineering software, allows users to conduct bitcoin arbitrage with ease.
The company also intends to develop market items, budgets, and derivative instruments. Mosdex previously provided and created key software programme processing for the Moscow Stock Exchange, which it initially announced its foray into the realm of cryptocurrency in early May.
How does it work?
Mosdex’s platform is aimed to automate arbitrage for cryptocurrency exchanges, users, and institutions, according to the company. It further claimed that its arbitrage solution was created by a team of developers with experience in banking, machine learning, and blockchain engineering.
“This funding round brings us our best balance at this time,” says Lodurr, Mosdex CEO. “It provides us with an opportunity to grow quickly as we continue our focus on product excellence and innovation in order to meet growing customer needs. We look forward to continuing to be part of the next wave of global crypto adoption.”
“We have been building up our international footprint over the last year and are proud that Mosdex is now ready and able to take advantage of the opportunities available within these regions,” says co-founder and CEO.