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Byte Trading
Algorithmic market maker for digital assets
- 1-20 employees
- B2B
- Cryptocurrency
- Trading
- Financial Services
- Blockchain
- Mayfair, London, UK
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Company mission
Byte's mission is to serve as an algorithmic market maker in digital assets, by creating liquid and efficient markets on centralized and decentralized exchanges.
Our take
Byte Trading is looking to capitalize on a new and rapidly growing market opportunity offered by the growth of crypto: crypto market making. The relatively unregulated and highly lucrative field is drawing in many alternative-asset professionals.
Co-founder Jan Hoekman has a background in alternative datasets, which the company is hoping to leverage to its advantage. Crypto markets function differently to traditional ones, which is something that crypto market makers can miss if they come from a more conventional financial background. Competition, however, is still going to be fierce.
Crypto market making firms are sucking in a lot of the top market talent with large cash pools. Firms already doing so include Alameda Research, Jump Trading, GSR, and the newly launched Wintermute, all key competitors bringing substantial market experience to the table.
Steph
Company Specialist at Welcome to the Jungle
Funding (2 rounds)
Jan 2022
$7m
SEED
Mar 2021
$0.6m
SEED
Total funding: $7.6m
Leadership
Dominik Vacikar
(Co-founder & CEO)Has spent nearly a decade working across venture and enterprise, including as a venture partner with Giant Ventures, and as co-founder of investment data insights companty Specter.
Jan Hoekman
(Co-founder)Worked as a data scientist with HousingAnywhere.com, before moving on to co-found startup tracker GlassDollar.