Jump Trading Launches Crypto Division to Build the “Plumbing” Necessary for Widespread Adoption of Crypto & DeFi
Secretive Wall Street firm Jump Trading has officially announced the launch of Jump Crypto; a dedicated team focused on the growth and development of cryptocurrencies and blockchain ecosystems.
After more than six years of “deep involvement” across the crypto space, Jump Crypto has been introduced, which will be headed by the 25-year old Kanav Kariya.
Kanav Kariya President of Jump Crypto
“We believe that current DeFi applications are only the tip of the iceberg. These new, open rails have the capacity to enable innovation and product models that stretch far beyond the realms of traditional financial systems.”
He further said that Jump Trading Group, which is a data and research-driven trading business, will be bringing its decades-long experience to crypto with an aim to “contribute to the construction of the ‘plumbing and the railroads’ necessary for widespread adoption of crypto.”
1/ Introducing Jump Crypto. @JumpCryptoHQ
Public blockchains have unlocked new and incredible modes of resource coordination by enabling trust in a byzantine setting. We recognize the opportunity that presents, and we're here to buildhttps://t.co/5rE21tDr3w
— Kanav Kariya (@KariyaKanav) September 14, 2021
With its crypto division, the idea is to venture beyond trading and delve into venture capital investments, decentralized finance (DeFi), and on-chain governance.
Last month, the company also announced the acquisition of blockchain development firm Certus One as part of its expansion into crypto.
Jump Trading has a team of more than 90 people and has deployed billions of dollars of capital across the crypto ecosystem.
Along with the launch, Jump Capital closed a new $350 million fund, the seventh since inception, which will focus on crypto and has already invested in PayPal acquired Curv and BitGo, which is to be acquired by Galaxy Digital.
Dave Olsen President and CIO of Jump Trading Group
“The finance industry is undergoing one of the biggest paradigm shifts in its history propelled by innovations in decentralized ledger technologies that will significantly enhance legacy systems and facilitate connectivity across financial service firms, and institutional and retail investors globally.”