Russian VC Firm Invests $3m In Xena Cryptocurrency Exchange - The Industry Spread

Ricardo Esteves

Ricardo Esteves has seen business and economics through many lenses. He joined the Financial Services Industry in 2009, and has been a financial journalist since 2011. He holds a degree in Business Administration and has experience producing real-time news, from both buy-side and sell-side, as well as for retail traders, brokers and service providers. Esteves' work has appeared in a variety of online publications including FX Street and FinanceFeeds.

Xena Exchange

Russian VC Firm Invests $3m In Xena Cryptocurrency Exchange

November 23, 2018

Klever Internet InvestmentsThe $3 million raised by the cryptocurrency exchange headed by former executives at J.P. Morgan, Deutsche Bank, and UBS, will fund the team’s expansion, product development, and marketing efforts.

Professional-level crypto-asset trading platform Xena Exchange has completed a $3 million Series A round of financing led by sole investor Klever Internet Investments, a stage-agnostic venture capital fund focused on investing in internet-enabled businesses. Klever is headquartered in Moscow, Russia, and is also invested in Telegram Open Network, the messaging service’s blockchain project.

Xena Exchange, a Dublin-based operator founded in 2017, plans to use the funding to bolster the company’s focus on team expansion, marketing efforts, and accelerate product development. The current team is led by a group of industry professionals with experience from top-notch investment banks such as J.P. Morgan, Deutsche Bank, and UBS.

Anton Kravchenko, chief executive officer of Xena Exchange, said, “Cryptocurrency trading platforms currently existing on the market are not built with knowledge of financial markets and tools. These platforms remain far from traditional stock exchanges in terms of the functionality demanded by professional market participants. Active traders require smarter tools for profit extraction, lower commissions, a variety of order types and segregated funds.

Anton Kravchenko, chief executive officer of Xena Exchange
Anton Kravchenko, chief executive officer of Xena Exchange

“Our team knows what professional traders need, how they think, what works best in trading, and how to effectively launch these tools and services. Xena Exchange’s platform offers unique features for professional traders, including Positions and P&L calculation, high rebates for market makers, low latency trading, and trend analytics. These tools are set to be bolstered by a professional desktop trading terminal and synthetic instruments by the end of the year. We are proud to be recognized as a reliable partner able to meet the high standards set by investors like Klever Internet Investments“.

Prior to launch Xena Exchange, CEO Kravchenko was Associate Director at VTB Capital and Vice President of Investment Banking Solutions at Bank Otkritie Financial Corporation. For three years, between 2010 and 2013, he worked at J.P Morgan’s Russian subsidiary on its derivatives and structured products department for Russia and CIS.

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