Another startup focused on a buzzy derivative popular among crypto traders has attracted serious cash. Ostium, a decentralized exchange founded by two Harvard graduates, has raised a $20 million Series A round led by marquee venture outfit General Catalyst and the crypto arm of the quantitative trading firm Jump Trading, Kaledora Kiernan-Linn, cofounder and CEO, told Fortune.
Ostium lets users bet on real-world assets like stocks, metals, and oil, as well as some cryptocurrencies. Traders can take on higher risk through perpetual futures. Unlike traditional futures, these derivatives don’t expire on a set date—assuming traders maintain the necessary margin requirements.
