Last Updated: October 12, 2023
SheeldMarket is a French startup that aggregates marketplaces on a single platform.
The company recently obtained the registration of its activity with the AMF.
Tim Draper financially supports the French project via Draper Dragon.
SheeldMarket is a French startup that aggregates marketplaces on a single platform. The company recently obtained the registration of its activity with the AMF.
SheeldMarket was accelerated at UC Berkeley, before joining the Agoranov incubator in Paris. In May 2020, the company raised € 1 million from French (Kima Ventures, Axeleo) and American (Draper Dragon) funds. In June, SheelMarket launched a trial phase with an American fund to validate its technology.
What needs does SheelMarket meet?
The cryptocurrency market is fragmented and not ready to welcome institutional investors. Indeed, there are currently more than 50 marketplaces on which to buy and sell cryptocurrencies. Each has its price, its account opening process, and above all an obligation to fund this account in full before being able to place orders. In order to get the best price and be sure to process your entire position, you should therefore be connected to all platforms at the same time, which represents a considerable cost and workload for an investment fund.
Bitcoin Up has developed cash management algorithms and process, customers can get the best market prices with just one click. In addition, customers’ buying and selling intentions are blindly linked in an encrypted dark pool before being transmitted.
Registration with the AMF
Since the end of October, SheeldMarket has been registered with the AMF as a Service Provider on Digital Assets (PSAN) for the custody of digital assets and the purchase / sale of digital assets. Famous investor and billionaire Tim Draper seems to be enjoying the news on Twitter.
Exchange becomes fourth structure after Coinhouse , StackinSat, and LGO Exchange to be registered as a PSAN
Oliver Yates, President of SheeldMarket, said:
This registration represents an important milestone for our company and the crypto ecosystem in Europe, as there is currently no similar solution that complies with regulations for European investors.