Seed Labs, a Karachi-based Fintech startup has raised $6.4M for its dTrade app, through a Seed funding round from venture capitalists across nine different countries, including institutional liquidity providers such as Alameda Research, Kronos Research, and LedgerPrime, as well as others that collectively trade in excess of $28bn on a daily basis.
Seed Labs was co-founded in 2020 by Yameen Malik, Rabeel Jawaid, Zabi Mohebzada, and Ahmad Jawaid. The startup is focused on developing products for retail and institutional investing, with their first product commissioned for decentralized derivatives on commodities, stocks and digital assets.
Zabi Mohebzada, Seed Labs co-founder, commented “At the moment, our key target markets are Europe and the Asia Pacific Region. The derivatives exchange is scheduled to launch in the third quarter of this year and is currently undergoing its initial round of technical security and penetration testing audits.”
At launch, the dTrade platform will primarily be a Perpetual Swap Trading Exchange. Perpetual Swap contracts are a type of derivative that allow traders to profit from price movements of financial assets.
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