South Africa-based OVEX cryptocurrency prime broker raised $ 4 million from Alameda Research.
The company will use the funding received during the strategic investor for staff expansion and international expansion. OVEX identified the UK, UAE, Canada, Kenya, and Nigeria as the most interesting regions for penetration due to the "lack of service supply".
According to the head of the startup, Jonathan Ovadia, the firm is in the process of launching its trading operations management in Dubai. The rest of the markets will be served by employees in South Africa.
Ovadia founded OVEX in 2017. The clients of the prime broker are institutional clients and high net worth individuals.