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Derivatives Trading Protocol Vega Raises $5M From Coinbase, Arrington and More
The funding will go toward Vega's mainnet launch.

Decentralized derivatives trading protocol Vega has closed a $5 million funding round with contributions from a number of venture capital and trading firms such as Arrington Capital and Coinbase Ventures.
- Gibraltar-based Vega Protocol said investors include Cumberland DRW, ParaFi Capital, Signum Capital, CMT Digital, CMS Holdings, Three Commas, GSR, SevenX Ventures, ZeePrime Capital and more.
- The funding will go toward mainnet launch as Vega becomes the "first institutional-grade derivatives trading protocol" and will support its mission to "democratize markets" by allowing anyone to launch a derivatives market, said the firm.
- For high-volume derivatives trading, it would remove "centralized gatekeepers," reduce fees and allow instant settlement, Vega added.
- "By allowing anyone to create and launch a derivatives market, we aim to give people the tools they need to hedge risks unique to their region, profession, or situation," said Vega founder Barney Mannerings.
- In October 2019, Vega announced it had secured a $5 million seed round led by Pantera Capital. Other investors included Ripple’s Xpring, Hashed and KR1.
Read more: Pantera Leads $5 Million Round for Decentralized Derivatives Market
Tanzeel Akhtar
Tanzeel Akhtar has contributed to The Wall Street Journal, BBC, Bloomberg, CNBC, Forbes Africa, Financial Times, The Street, Citywire, Investing.com, Euromoney, Yahoo! Finance, Benzinga, Kitco News, African Business Magazine, Hedge Week, Campden Family Office, Modern Investor, Spear's Wealth Management Magazine, Global Investor, ETF.com, ETF Stream, CIO UK, Funds Global Asia, Portfolio Institutional, Interactive Investor, Bitcoin Magazine, CryptoNews.com, Bitcoin.com, The Local, The Next Web, Mining Journal, Money Marketing, Marketing Week and more. Tanzeel trained as a foreign correspondent at the University of Helsinki, Finland and newspaper journalist at the University of Central Lancashire, UK. She holds a BA (Honours) in English Literature from the Manchester Metropolitan University, UK and completed a semester abroad as an ERASMUS student at the National and Kapodistrian University of Athens, Greece. She is NCTJ Qualified - Media Law, Public Administration and passed the Shorthand 100WPM with distinction. She does not currently hold value in any digital currencies or projects.
