New crypto options and futures exchange 'Thalex' closes Series A funding round

Thalex, a trading platform offering stablecoin-settled crypto options and futures, announced it has closed its Series A funding round of €7.5m.

Among the participants are Bitfinex, Bitstamp, Flow Traders, IMC, QCP and Wintermute. These investors will support the company’s ambition to enable on-exchange trading of crypto derivatives at scale by removing friction, ensuring platform reliability and partnering with liquidity providers and major exchanges.

Key features of the Thalex trading platform include Linear Bitcoin and Ethereum contracts with multi-collateral support (Bitcoin, Ethereum, Tether and USD Coin). Trading fees are anchored on 1 bps maker and taker, and fee advantages for multi-leg options and futures strategies (RFQ) are also included.

Future rolls with dedicated order books are are another key feature, along with RFQs for multi-leg options and future strategies, and a market maker scheme and market maker protection,.

Also featured is portfolio-based margining for delta and vega offsetting positions, and an efficient liquidation process involving automated delta-hedging to limit market impact, as well as liquidation auctions.

Thalex is partnering with Bitfinex and Bitstamp to enable customers to access the full suite of Thalex derivatives from their user interface. Positions on Thalex can be opened with collateral held with the partner exchange after an instant and free transfer to a Thalex margin account. The Bitfinex partnership is to be operational later this year.

Paolo Ardoino, CTO of Bitfinex said: “We are delighted to participate in this funding round with Thalex and see huge potential for the stablecoin-settled futures and options market.”

Jean-Baptiste Graftieaux, CEO of Bitstamp added: “Thalex’s unique value proposition will enable Bitstamp to streamline our go-to-market for derivatives and participate in the fast-growing crypto derivatives market. This investment marks the beginning of a close strategic partnership and plays an important role in Bitstamp’s corporate strategy.”

Michael Lie, head of digital assets trading EMEA of Flow Traders said: “Thalex’s ambition of creating a scalable infrastructure that enables on-exchange trading in crypto derivatives is another step forward in making trading digital assets more accessible and efficient.”

Darius Sit, founder of QCP Capital added: “Crypto options are one of the fastest-growing segments of the space and have proven to be robust through multiple market cycles. We believe the next phase of growth will be exponential. The Thalex team have built a platform combining best practices from both crypto and traditional finance.”