Tagomi Holdings Inc, an electronic brokerage firm funded by the venture capital firm of one of the founders of PayPal, Peter Thiel, began operations yesterday, according to a December 17 press release..
Tagomi is a digital asset brokerage platform. The company’s offerings include intermarket transactions, capital management, post-trade reporting, and settlement and custodian services..
According to Tagomi CEO Jennifer Campbell, the goal of her company is to eliminate the operational difficulties associated with exchanging digital assets. The company will serve clients who “require adherence to institutional operating standards”.
Institutional investors have already bypassed wealthy individual cryptocurrency transactions worth over $ 100K, according to an October Bloomberg article.. Besides, Diar’s recent report says institutional investors have shifted to the over-the-counter market.
Tagomi has raised $ 16 million from industry players such as Peter Thiel’s Founders Fund, an IT venture investor, SV Angel investment fund, and Collaborative Fund, a venture capital firm..
According to WSJ, Founders Fund first announced that it was going to invest in Tagomi back in May 2018. Peter Thiel then said that Bitcoin could become the digital equivalent of gold, as well as a possible way to protect against general chaos..
In March, Thiel suggested that traders are better off playing bitcoin long rather than short, but added that there remains an 80 percent chance that the first cryptocurrency will eventually become worthless..
In July, Thiel, as well as crypto-mining billionaire Jihan Wu of Bitmain, invested in Block.one, which is developing EOS. According to some rumors, Thiel previously invested up to 20 in bitcoin through the Founders Fund million dollars.