Twenty well-known business angels, including Alexandre Prot (Qonto), Nicolas Julia (Sorare), Pascal Gauthier (Ledger), and Sébastien Borget, along with leading investors Eurazeo, Aglaé Ventures, ISAI, Speedinvest, Fabric.VC, Ledger, and Coinbase, reported that Flowdesk had raised $30 million (The Sandbox).
The first participant offering cryptocurrency market-making services to register with the AMF, the French financial markets regulator, was Flowdesk. a status imposed in particular by adherence to stringent anti-money laundering and anti-terrorism financing (AML/CFT) regulations and implemented by the PACTE statute in 2019. The firm operates in a rapidly expanding market; in 2022, there will be more than 10,000 cryptocurrencies listed than in 2013, when there were only a few dozen. More than 50 businesses, investment funds, and cryptocurrency token issuers are among its clients.
The four co-founders of Flowdesk, Guilhem Chaumont, Paul Bugnot, François Cluzeau, and Balthazar Giraux, have each worked in the cryptocurrency industry for several years after pursuing careers in finance, algorithmic trading, engineering, and entrepreneurship. The siloing and fragmentation of markets and the lack of technology to manage the liquidity of crypto-asset ventures characterized their respective experiences. In order to connect and trade on these exchanges in 2020 while assuring the redundancy and scalability necessary to support the rising number of crypto projects, they made the decision to create the infrastructure.
An innovative product
As a result, Flowdesk is the creator of a trading infrastructure that enables connectivity with more than 60 cryptocurrency exchange platforms. A tool that allows its teams to provide four different sorts of services for Flowdesk as well as their clients:
- Asset administration
- Brokerage
- Custody
- Market-making
The most distinctive feature of Flowdesk is its market-making service. It takes care of the requirements of the vast majority of the 10,000 cryptocurrency issuers that have severe liquidity problems. These players are allowed to manage their cryptocurrency token liquidity using their capital by Flowdesk by giving them access to its technology and traders. The name "Market-Making-as-a-Service" refers to digital business models that rely only on giving clients access to technology in exchange for their resources.
A successful campaign to adjust the scale: At the beginning of 2021, Flowdesk's workforce consisted just of its four co-founders. Today, the company has 35 workers, and by the end of 2022, it hopes to have 100—a change in magnitude that requires finance. After opening offices in Singapore in March 2022, Flowdesk is now focusing on the United States to deploy sales and trading teams and legal compliance specialists, a particularly strategic topic for the company and its constantly changing regulatory market. Flowdesk is indeed facing an extreme demand in market-making.
About Flowdesk
The digital asset service provider Flowdesk was established in 2020 by Guilhem Chaumont, Paul Bugnot, François Cluzeau, and Balthazar Giraux. It is registered with the Autorité des marchés financiers in France (AMF). A trading infrastructure that enables interaction with more than 60 bitcoin exchange platforms was invented by Flowdesk. The company provides asset management, brokerage, custody, and market-making as its four service categories. The business has locations in Singapore and Paris.
