• Former FTX.US president Brett Harrison has raised $5 million in a seed round funding for his new crypto project Architect.
• The project has been backed by some of the top venture investors within the crypto space, including Coinbase Ventures and Circle Ventures.
• Architect is building trading software that aims at streamlining the crypto markets.
Brett Harrison, the former FTX.US president, has announced the launch of his new crypto project Architect, raising $5 million in seed round funding from a series of top venture investors within the crypto space. The funding was led by Coinbase Ventures, Circle Ventures and SV Angel, and also included SALT Fund, Third King Venture Capital, Motivate Venture Capital and SkyBridge Capital’s Antony Scaramucci.
Architect is a decentralised finance (DeFi) venture that has been in stealth development since September of last year. It is a trading software project that aims to streamline the crypto markets and provide institutional-grade trading technology. Harrison stated that the project will provide “more efficient and reliable access to the primary and secondary markets, while also giving users the tools they need to manage their portfolios.”
The software will be developed in stages, beginning with a platform that will allow users to trade digital assets and cryptocurrencies. Other features and services are planned to be released in the future, including portfolio management tools and analytics, as well as access to third-party services such as custody, lending and margin trading.
According to Harrison, the project is being developed in response to the increasing demand for institutional-grade trading technology. “We believe the market needs a platform that provides a secure, compliant and efficient trading experience,” he said. “Architect is designed to provide the features and services required by the institutional investor, while also being accessible to retail traders.”
Architect’s seed round was oversubscribed and the team has already begun hiring in preparation for the launch of the platform. Harrison said the funding will be used to accelerate the development of the platform and to expand the team.
The team is currently focused on building the platform, but Harrison is confident that it will be ready to launch in the near future. “We’re excited to be launching the platform soon and look forward to providing a secure and reliable trading experience to our users,” he said.