Crypto derivatives platform BitCoke raises $20M USD led by Huobi

BitCoke, a crypto spot & derivatives exchange, on May 12th confirmed that it successfully raised $20 million in a strategic private round in early 2022.

The funds will be primarily used by the centralized exchange to design and develop key features connecting CEX with decentralized exchange (DEX) features.

According to BitCoke’s official blog, the financing deal was reached with a group of investors led by Huobi Exchange, and also included others, such as RedLine DAO, Krypital, LD Capital, AKG, VRM, Mint, WeBlock, 7 Clock, HTR, NFTGO, LTP, Scorpio, Eureka, Hotbit, JL Capital, Pento.

“As BitCoke continues to adapt to the paradigm shift in crypto trading, this institutional investment will accelerate the development of the exchange and the promotion of BitCoke native token, as well as help us explore the merging between CEX and DEX exchanges.”  
– Pietro Riccio, CEO of BitCoke Exchange

Charles, head of Huobi investment arm, stated, “BitCoke is a dedicated exchange that focuses on the derivatives market, and is known for its professional products and friendly user experience. Huobi believes BitCoke is a trusted reliable partner for collaboration.”

BitCoke is regarded as the world’s first Quanto swap crypto exchange, with trader-centric features, i.e. fair matching, fast execution, and low fees.

Its original products, like the Quanto swap, proprietary chart, and fund management system, make the exchange popular among traders, funds, and asset management firms. BitCoke has long ranked in the top 10 by volume at the CoinMarketCap derivative marketplace.

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