Funding Alert

Crypto investment platform Xalts raises $6 million in funding from Citi Ventures, Accel


Investment management and technology company called Xalts has raised the US $6 million from investors including Polygon co-founder Sandeep Nailwal, Citi Ventures, and Silicon Valley startup capital firm Accel.

In order to attract real-money institutions to the digital asset ecosystem, Ashutosh Goel, a former trader at HSBC, and Supreet Kaur, a former executive at Meta Asia, founded xalts. Xalts intends to introduce a variety of mutual funds and exchange-traded funds (ETFs) focused on digital assets that will be traded on numerous international platforms.

“This past summer, a number of sizable crypto businesses came under scrutiny for lacking the fundamental checks and balances that most of us take for granted in the financial sector. We are developing cutting-edge, institutional-grade investment products and solutions with xalts that put a high priority on compliance and control standards, issues that are important to institutional investors “Goel, the chief investment officer of xalts, said.

Together with other participants in the ecosystem, Xalts is also creating a number of additional products, such as a platform for repackaging and structured products that will enable institutions to issue structured notes with integrated crypto choices.

xalts

“Institutional investors have a lot of unmet demand to invest in the digital asset class. However, many of the institutions we are talking to are unable to directly access this ecosystem. Without compromising the high standards of safety and compliance demanded by institutional investors, our products and solutions close this gap “xalts Chief Operating Officer Kaur remarked.

“Xalts is our first investment in a digital asset manager, and we support its aim of building novel products to address the growing hunger of institutional investors for more efficient and robust crypto-access investments,” said Luis Valdich, Managing Director of Citi Ventures.

Abhinav Chaturvedi, Partner at Accel, continued, “Our premise is that institutional adoption of digital assets will continue to accelerate, and we see a tremendous opportunity in this market.

 

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