Punk Trader announced Monday, that the company will do a private placement of maximum 8 M shares at 1.05 EUR. The company is set to become listed on the Dusseldorf Stock Exchange in the second quarter.
The company is set out to challenge the likes of E-Toro and others by providing ready-made professional trading strategies in the digital assets sphere. Focusing on high-frequency algorithmic trading offered to customers on their platform, set to be released in the second quarter as well.
Punk Trader is said to reveal its inhouse trading results by the end of this week. Currently, non-custodial client accounts with fully automated trading have been integrated for Binance, Bitmex, Phemex and Bybit. The company is working on integrating more exchanges, such as Huboi, Kraken and OKex.
With the recent appreciation of Bitcoin, Ethereum and other Altcoins, interest has sky-rocketed in trading platforms such as Punk Traders and others alike. Aside, from trading with clients’ accounts, Punk Trader is set out to trade with its own capital, just like any other prop firm on the market. The private placement is intended to cover costs of appr. 2.5 M EUR to finalise the platform. Exceeding funds raised is for additional marketing and trading capital.
Punk Traders parent company Global Direct Partners has agreed with ARFS Trading LLC to be responsible for the Capital Raise
Source: Press release
