Vestigo Ventures and CMT Digital Invest in FRST, a Crypto Asset Data Provider
Vestigo Ventures, which is an early stage venture capital firm that focuses on transformative fintech companies and CMT Digital, which focuses on crypto asset trading blockchain tech investment and legal engagement, took part in the $3.4 million finance round for FRST.
FRST is the leading provider of high fidelity, timely, and actionable data for crypto traders, and asset data. CMT Digital and Vestigo Ventures led the funding round. Others who participated in the funding round are Oak Ridge Investments and Premier Asset Management principals and Akuna Capital.
FRST is an enterprise-grade technology that allows traders to understand, categorize, and make decisions on crypto transactions.
The technology offered by FRST identifies crypto trades before they move from a wallet to another party. This helps to offer insight for firms that trade crypto.
What The Company Heads Had To Say
The managing director of Vestigo Ventures said the crypto was here to stay. However, just like any immature market, access to trustworthy and actionable data had been lacking; FRST has managed to solve this challenge.
Ina Seridan, the Managing Director at Vestigo Ventures, added that with FRST being the first to bring crypto monitoring technology, it has a clear customer focus. He said that all these factors positioned FRST as an ideal investment, which is in line with Vestigo’s goal of investing in companies that offer operational solutions.
The CEO of FRST said that he viewed CMT Digital and Vestigo Ventures as important strategic investors. He added that Vestigo Ventures had in-house data science assets via access to resources that come from Cogo Labs. This has ensured that they have strong relationships with people dealing with difficult issues in the ecosystem.
He said that CMT Digital would bring technical, trading, and quantitative investment expertise. Additionally, they would bring their extensive legal and policy understanding to the table. He concluded by saying FRST was looking forward to working with both of them as the company moves from beta to release in the coming months.
The CEO of CMT Digital said that FRST was helping to get rid of the cloak of invisibility in many aspects of the crypto trade lifecycle. As a result, it would enable traders to set up custom alerts and notifications. This would provide better situational awareness for traders seeking an edge. He added that by combining the CMT Digital data science knowledge with FRST’s technology would lead to a world-leading data intelligence platform.
It would allow users to upload their own data to look for correlations between their data and third-party data.
About Vestigo Ventures
This early-stage venture capital firm is based in Cambridge, Massachusetts. It invests in fintech companies. The firm was created by David Blundin, the chairman and founder of Cogo Labs, Mark Casady and the former chairman and CEO of LPL Financial and the MD Ian Sheridan.
About CMT Digital
CMT Digital is a division of CMT Group. It has been focused on crypto trading, blockchain tech investment, and policy engagements in the blockchain sector since 2013. CMT Digital runs a 24/7 crypto asset trading desk.