CoinDesk
London-based crypto market maker LO:TECH raised $12 million in a Series A led by MMC to expand into New York and Singapore and grow its institutional trading business. Existing investors Faction and 13 Books Capital also participated, alongside Atka.
Why it matters
The company is positioning its execution services across traditional, digital and prediction markets, and is betting on demand for round-the-clock trading in tokenized stocks. But LO:TECH has not said whether it currently trades tokenized stocks. A World Federation of Exchanges study published Oct. 20 found traditional exchanges remain the main source of price discovery for third-party tokenized stocks, with tokens generally adjusting toward underlying shares when prices diverge.
LO:TECH says its Nov. 2 launch covers existing proprietary trading and liquidity provision in digital asset markets. It is preparing a regulatory application but did not identify the jurisdiction, and says it will not offer regulated services before approval.
Market impact
The funding will support overseas expansion and the execution business. LO:TECH says it serves more than 50 institutional clients across market making, market data and execution, and makes markets on Hyperliquid, Binance, Bybit and OKX. It described monthly trading volumes as “in the billions” but did not disclose exact figures, clients or how it prices and hedges positions.
The push into tokenized assets comes as firms work to address gaps in trading outside traditional market hours. Chainlink recently introduced weekend and holiday pricing based on perpetual futures quotes, with Aave as its launch partner. For LO:TECH, New York and Singapore expansion is the immediate step; regulated services still depend on approval.
Frequently asked questions
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Where will LO:TECH use its $12 million Series A funding?
The company plans to establish a presence in New York and Singapore and grow its institutional trading and execution business.
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What services did LO:TECH say launched on Nov. 2?
LO:TECH said the launch covers its existing proprietary trading and liquidity provision in digital asset markets. It said it will not offer regulated services before approval.
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Has LO:TECH confirmed that it trades tokenized stocks?
No. The company is betting on round-the-clock tokenized stock trading but has not said whether it currently trades tokenized stocks.
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What did the World Federation of Exchanges study find about tokenized stock prices?
The study found traditional exchanges remain the main source of price discovery for third-party tokenized stocks. When prices diverge, the tokens generally adjust toward the underlying shares.
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How large is LO:TECH's institutional client base?
LO:TECH says it serves more than 50 institutional clients across market making, market data and execution services.
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