Sparrow Raises US$4.4 Million Series A for Options Trading Platform with Gain Loyal Pte Ltd.
Summary
With the Series A funding by Gain Loyal Pte Ltd, Sparrow also aims to attract talent in risk management, trading, technology, and operational excellence. Sparrow will also improve its KYC, AML, and CFT regulatory framework and continue to grow its workforce across all its functions. We are confident our investment in Sparrow will create exciting opportunities for investors of digital assets and raise confidence and trust among financial institutions and wealth managers in Singapore," said Charles Lim of Gain Loyal Pte Ltd. "Sparrow also possesses the expertise and a wealth of experience dealing with digital asset solutions-focused heavily on risk management, compliance, security, and technology — all of which are essentials in the cryptocurrency space," Lim added. As of October 2021, Sparrow generated over US$3.5 billion of notional volume through its trading platform and the company had more than US$300 million of assets under management. Headquartered in Singapore, Sparrows options trading platform is secure, compliant, and intuitive for individual users.