BitOoda, a pioneering digital asset investment bank, announced the completion of the first phase of its Series A round, which was led by RWE Energy Transition Investments, an investment vehicle of RWE Supply & Trading GmbH, RWE’s energy trading arm.
BitOoda will use the funds to accelerate the development of new, innovative, and compliant capital market solutions for institutional clients, such as investment banking, bespoke structured products, spot and derivatives brokerage, research, and advisory services. The company also intends to strengthen its industry-leading regulatory posture and expand its team in order to pursue opportunities related to the commoditization of high performance compute, tokenization, and zero knowledge infrastructure.
“We are thrilled to have successfully closed this phase of our Series A, which will allow us to provide a more comprehensive suite of products and services for our institutional clients,” BitOoda CEO Tim Kelly said. “Now is the time for mature, compliance-focused firms like BitOoda to seize the opportunity created by the failure of unregulated and unsophisticated market incumbents.”