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Ex-Goldman Sachs partner raises $33 million to launch cryptocurrency trading app

Ex-Goldman Sachs partner raises $33 million to launch cryptocurrency trading app

Domain Money, the startup created by former Goldman Sachs chief product officer Adam Dell, has raised $33 million to launch a mobile app for trading stocks and digital assets.

We are thrilled to announce that Domain Money has launched. With our app you can trade stocks and crypto, invest in one of our professionally managed strategies and discover serious control through Domain Signal. Now available in the Apple app store.https://t.co/WDrR4q9W9y pic.twitter.com/89kZ9pTJds & ; Domain Money (@domainmoney) January 25, 2022

The Domain Money team includes former employees of Goldman Sachs, Bridgewater Associates, Morgan Stanley, Coinbase Global and BlockFi. Former Goldman Sachs CTO Elish Wiesel and former CFTC head Christopher Giancarlo are also participating in the project.

Bessemer Ventures, Maveron, RRE Ventures, SV Angel, Mark Benioff and Joe Lonsdale provided development funds.

The app is available in the AppStore. In addition to trading, the platform provides expert ratings, key financial metrics and current news. Users can sign up for one of the professionally managed strategies, with an annual management fee of 1 percent of assets.

"We are interested in blockchain that acts as an alternative to banks, for example through the DeFi money markets. There is a class of investors who like Fidelity, Schwab and E-Trade, but they are not happy with the access to cryptocurrencies that is provided." Adam Dell stated.

Supported assets include Bitcoin, Ethereum, Polygon, Terra, Uniswap and Bitcoin Cash.

Domain Money monitors the performance of protocols by monitoring GitHub, the dominant sentiment in social networks and the dynamics of exchange balances.

Cryptocurrency trading and storage is implemented in cooperation with Gemini Trust, stocks - with Apex Clearing.

As a reminder, a former top Citi executive launched a $1.5 billion fund to invest in the crypto industry.

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