The Wall Street herd continues to flock into the crypto market despite the bear market and prices being down significantly. Tagomi Holdings Inc., a startup backed by Peter Thiel’s Founders Fund, launched on Monday December 17th, 2018. Tagomi is the first live electronic brokerage offering prime services for sophisticated investors of Bitcoin, Ether, and other digital assets. It is essentially looking to provide services to the institutional investors.
Jennifer Campbell, Chief Executive Officer of Tagomi, stated that the company aims to ease the operational challenges related to trading digital assets. The company caters to clients that “require institutional operational standards.”
Togami got a significant investment, $16 million, and the main investor is Peter Thiel who is the billionaire co-founder of PayPal and was an early investor in Facebook. It was reported in January 2018 that his venture-capital firm, Founder’s Fund, bought $15 to $20 million in Bitcoin.
Also part of the Togami team is Greg Tusar, who serves as the company’s chief technology officer, he is the former global head of electronic trading at Goldman Sachs Group Inc. On December 17th, 2018 Bloomberg reported his statements about the crypto market (see quotes below)
“It feels like being at the early days of trading equities electronically”
“It’s early stage, there’s a lot of opportunity to build great businesses and have impact.”
“The current environment is challenging, for sure, but we think there’s a lot of longer-term demand for digital assets and helping clients understand the transformative impact of crypto and blockchain“