Tagomi Holdings INC., an electronic brokerage startup backed by PayPal co-founder Peter Thiel’s venture capital firm, has launched, as per a Dec. 17 press release.

Tagomi is an electronic brokerage for digital assets. The firm’s offerings include cross market execution, capital management, post-trading news, additionally as settlement and custodial services.

According to Chief officer of Tagomi, Jennifer Joseph Campbell, the corporate aims to ease the operational challenges associated with commerce digital assets. The corporate caters to purchasers that “require institutional operational standards.”

As Top Market Group reported in October, institutional investors replaced high net-worth individuals as the biggest consumers of cryptocurrency transactions over $100,000. The institutional investors have shifted to over-the-counter (OTC) markets A recent report from Diar stated.

Tagomi reportedly raised $16 million from such trade players as Peter Thiel’s Founders Fund that invests in technology firms, seed-stage investment fund SV Angel, private equity and venture capital firm collaborative Fund, and others.

Founders Fund at first proclaimed its plans to take a position in Tagomi in may 2018, as reported by WSJ. Thiel reportedly said then that Bitcoin (BTC) may become the digital equivalent of gold, additionally as a potential hedge on the market.

That month, Thiel advised that “longing” Bitcoin instead of shorting is healthier trading strategy. Despite this, he gave a chance of up to 80 % that the world’s initial cryptocurrency would ultimately become worthless.

Later in july, Eos developer Block.one secured investments from Thiel along with crypto mining hardware have Jihan Wu of Bitmain. At the time, Thiel was reported to have invested up to $20 million in Bitcoin through Founders Fund.

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