Nasdaq, Coinbase, Citi, NAB and Chicago Trading Company were among the participants in the crypto data company's latest round.

The rate at which traditional financial systems are integrating cryptocurrencies was underscored yesterday as stock exchange operator Nasdaq, Chicago Trading Company and a number of banks backed the $30m series B round for digital asset data provider Amberdata.

Founded in 2017, Palo Alto-based Amberdata provides data on crypto markets, blockchain networks and decentralised finance for some of the largest financial and digital asset institutions, like Citi, Coinbase and Nasdaq.

“The rate of institutional adoption of crypto is truly astounding,” said Shawn Douglass, Amberdata’s chief executive.

“We have seen our revenue double in the first quarter of this year as the world’s largest financial institutions come to us for the critical data they need for research, trading, risk, analytics, reporting and compliance as they enter digital assets.”

Integrating digital assets into the mainstream financial ecosystem is one of the major challenges facing institutions today, given the inherent volatility, legal and technological…

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Fernando Moncada Rivera

Fernando Moncada Rivera is a reporter at Global Corporate Venturing and also host of the CVC Unplugged podcast.