Funding Boosts Off-Exchange Settlement Solution
Digital asset infrastructure company BridgePort has successfully closed a $3.2 million seed funding round. The investment was led by Further Ventures, with participation from major players including Virtu, XBTO, and Blockchain Founders Fund. This capital will accelerate development of their innovative settlement middleware for institutional crypto trading.
Solving Crypto’s Capital Efficiency Problem
BridgePort’s platform addresses three key market challenges:
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Eliminates prefunding requirements – Traders no longer need to park funds across multiple exchanges
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Reduces settlement risk – Secure transactions between verified counterparties
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Improves capital allocation – Real-time collateral coordination
“We’re fixing the broken plumbing of crypto markets,” said CEO Nirup Ramalingam.
How the Platform Works
The cloud-based solution offers:
Core Features
✓ Real-time messaging system
✓ Multi-party settlement coordination
✓ Automated collateral management
Technical Integration
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Available on AWS marketplace
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Supports REST APIs and FIX protocol
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Custom connection options
Expanding the Settlement Network
BridgePort is currently:
• Onboarding regulated custodians
• Partnering with major exchanges
• Building institutional-grade infrastructure
“Our goal is creating the backbone for off-exchange trading,” noted the CTO.
Investor Confidence in the Vision
Mohamed Hamdy of Further Ventures explained their backing:
“BridgePort solves crypto’s fragmentation problem. Their traditional finance expertise brings needed discipline to digital asset markets.”
The funding will primarily support:
→ Engineering team growth
→ Enhanced credit risk features
→ Network expansion
The Future of Crypto Settlement
Industry experts highlight BridgePort’s potential to:
Reduce counterparty risks
Improve capital efficiency by 30-40%
Enable new institutional trading strategies
“This represents the next evolution in crypto market structure,” added Ramalingam.