Makor Capital, a brokerage and investment banking group, has raised $ 17 million in Series A funding to develop Enigma Securities, its digital asset brokerage.
- The round valued London-based Makor at $ 200 million and was joined by blockchain firm Algorand and billionaire hedge fund manager Alan Howard.
- Algorand CEO Steven Kokinos will join the company’s board of directors.
- Makor’s digital asset brokerage firm Enigma Securities has a monthly trading volume of $ 2 billion, according to a announcement Wednesday.
- Alan Howard has made numerous investments in crypto firms in recent months, following the announcement in April that Brevan Howard, the hedge fund he co-founded, was allocating 1.5% of his main fund to $ 5.6 billion straight to cryptocurrency.
- Howard led a $ 25 million extension of cryptocurrency custodian Copper’s Series B funding round in June and also participated in FTX’s gigantic $ 900 million Series B round in July.
Read more: Algorand Foundation launches $ 300 million DeFi innovation fund