Source: Cointelegraph Original: "{title}"
Theo is a company that provides on-chain trading infrastructure and has raised $20 million from 17 investors to enhance its institutional-grade trading platform aimed at retail investors.
On April 24, Theo revealed that this funding round was co-led by Hack VC and Anthos Capital, with participation from venture capital firms Manifold Trading, Miranda Ventures, Flowdesk, MEXC, and Amber Group.
Citadel, Jane Street, IMC, and JPMorgan are listed as angel investors in this transaction.
Founded by former quantitative traders, Theo aims to provide retail investors with advanced strategies such as high-frequency trading and market making, tools typically used by professional trading firms.
The company's infrastructure can be utilized in centralized exchanges and decentralized finance protocols.
According to industry data, as of April 23, the total value locked (TVL) in the Theo network is close to $29 million.
Theo is part of a wave of blockchain protocols aimed at bridging the gap between institutional finance and retail. Companies like Polygon, Fireblocks, Ondo Finance, Lido, and BloFin are driving developments in this space.
Institutions are entering on-chain
While companies like Theo are working to bring Wall Street-level complexity to crypto-native users, strong evidence suggests that influence is also flowing in the opposite direction.
After years of speculation, institutional participation in digital assets has now become a reality, primarily driven by the launch of Bitcoin ETFs, the rise of real asset tokenization, the appeal of on-chain lending, and the increasing dominance of stablecoins as the preferred means of funding.
According to credit rating agency Moody's, blockchain-based secondary markets can simplify the investment process by removing inefficiencies and lowering the barriers to asset ownership.
These trends are the main reasons why most institutional investors indicate plans to increase their cryptocurrency allocations this year, according to a recent survey report by Coinbase and EY-Parthenon.
The survey also revealed that two-thirds of institutions expect to become active DeFi users within two years.
Related: FBI: $9.3 billion in losses due to cryptocurrency fraud in the U.S. in 2024
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