Founders Fund to Patron Tagomi Systems Inc.
BTCWires– Founders Fund is an American San-Francisco based venture capital firm founded in the year 2005. The company has two headquarters, one in California and other in San-Francisco, it invests in all stages in different sectors including artificial intelligence, aerospace, energy, health, advance computing, etc. Founders Fund is majorly known for being one of the earliest investors in Facebook is now set to invest money into a cryptocurrency start-up company named Tagomi Systems.Inc which aims to develop and increase the bulk trading of cryptocurrencies.
According to the Wall Street Journal report, Peter Thiel, San Francisco based high profile investor, billionaire and co-founder of Founders Fund is backing up the newly formed start up- Tagomi Systems Inc. which aims to play a role of broker and dealer in order to optimize the bulk cryptocurrency trading orders for high valued clients. According to a report, the total netted funding so far is about $15.5 million and the amount that Founders Fund has invested in the start-up has not been disclosed yet.
In addition to this, On March 15, a filing was made with the U.S. Securities and Exchange Commission stating that Napoleon Ta who is also a partner at Founders Fund will serve as a director in Tagomi Systems Inc.
One of the Tagomi’s co-founder, Greg Tusar worked with Goldman Sachs for about 15 years as a chief of Electronic Trading before joining the fast-moving trader KCG Holdings Inc., where he worked for the next 4 years. Greg is well renowned and respected individual in the world of electronic-trading business.
Despite the involvement of Founders Fund, Tagomi has to face a very tough and troublesome battle in further to stand out from the rest of the start-ups. It has also been noted that some investors have already lost enthusiasm after Cryptocurrency industry registered the all-time best record level last December. Besides that, in U.S there is also some concern regarding the uncertain regulatory status of the crypto industry.
Tagomi is a start-up based on cryptocurrency-based funding founded in the year 2017. The aim of Tagomi Systems Inc. is to manage and handle bulk trading of digital currencies which has become a bit troublesome issue now because of the disintegration of the market across hundreds of exchanges across the world. Due to the fragmentation of the market, connecting and reaching out to all of them will require distinct separate accounts and cryptocurrency exchanges has certain limits on the transaction. They have imposed limits on the number of funds that can send and received in a day. All these stumbling blocks make it much hard and time-consuming task to land up with a big trade. Moreover, the value of the cryptocurrency keeps on fluctuating resulting in a difference between the investor’s buying and selling value. It can disturb and can also cause disbalance in the trading process.
According to Tagomi, borrowing page from stock market will prove helpful in running the trade smoothly and easily. In the United States, brokers and dealers use smart order routing system while dealing with equities. This system dispatches their clients buying and selling orders to various different venues which include dozens of exchanges and also more than 30 over the counter platforms which is also known as dark pools.This power tool helps in making a calculated and immediate decision as to which market place is better to execute a trade and at what time. Tagomi is considering to develop a similar kind of power tool which can be used for the virtual cryptocurrency trading market.