Harvard Alumni Secure $20M for Ostium’s Perpetual Futures Platform

Bassyonni

ago 39 minutes

Harvard Alumni Secure $20M for Ostium’s Perpetual Futures Platform

Ostium, a decentralized exchange founded by Harvard alumni, has successfully raised $20 million in Series A funding. The round was led by General Catalyst and Jump Trading’s crypto arm. This funding marks a critical step for Ostium as it positions itself within the rapidly evolving sector of perpetual futures trading.

Funding and Valuation

Ostium’s latest funding round has valued the startup at approximately $250 million. In addition to General Catalyst and Jump Trading, notable participants included Coinbase Ventures, Wintermute, and GSR. Previously, Ostium had secured around $8 million in funding.

What is Ostium?

Ostium allows users to trade on real-world assets such as stocks, metals, and oil, along with certain cryptocurrencies. Its platform focuses on perpetual futures, a variant of derivatives that do not have an expiration date, provided that users fulfill necessary margin requirements.

Target Market

With 15 employees, Ostium is aiming to attract both crypto enthusiasts and traditional investors. Co-founder and CEO Kaledora Kiernan-Linn emphasized the company’s desire to appeal to non-crypto users, particularly those in the offshore broker market seeking access to U.S. financial markets.

Competitive Landscape

The decentralized exchange market has become increasingly crowded, featuring competitors like Hyperliquid, Lighter, and Aster. These platforms primarily target cryptocurrency trading. Ostium differentiates itself by emphasizing tangible assets and targeting a broader audience beyond crypto traders.

Founders’ Background

Kiernan-Linn, a former ballet dancer, and co-founder Marco Antonio Ribeiro, who excelled in competitive sciences, have a unique collaboration. Their shared experiences at Harvard helped them establish Ostium in 2022, blending traditional finance with innovative technology.

Future Plans

Expand into the offshore broker market.
Target non-U.S. investors seeking access to U.S. markets.
Leverage blockchain technology to improve trading efficiency.

Ostium’s approach reflects a growing trend in the financial sector: merging traditional securities with innovative crypto trading platforms. The company aims to streamline access and improve user experience in the derivatives market.