Amsterdam-based exchange strengthens its institutional offering with strategic funding
Amsterdam-headquartered crypto derivatives exchange D2X has raised €4.3 million ($5 million) in a strategic funding round aimed at expanding its services for institutional investors. The round saw participation from Circle Ventures, CMT Digital, and Canton Ventures, alongside continued support from existing backers Point72 Ventures, Tioga Capital, GSR, and Fortino Capital.
D2X, which operates under the EU’s MiFID II framework as a Multilateral Trading Facility (MTF), claims to be the first regulated crypto derivatives exchange in a Tier-1 jurisdiction that operates seven days a week. The new capital will primarily be used to advance product development and accelerate institutional client onboarding.
Bridging regulatory and operational gaps
The crypto derivatives sector is increasingly competitive, with major players like Coinbase and Kraken acquiring or launching their own derivatives platforms. D2X seeks to differentiate itself by providing a fully regulated environment tailored to the needs of risk-averse institutional clients.
Charlie Sandor, Investment Partner at CMT Digital, emphasised the importance of D2X’s regulatory foundation. “D2X addresses two of the most pressing challenges for European institutional investors: the lack of regulated trading venues and the disconnect between 24/7 crypto markets and traditional exchange hours,” he said. “With its MTF licence and robust, weekend-ready trading architecture, D2X sets a new benchmark for crypto derivatives in Europe.”
CMT Digital, a global proprietary trading and venture capital firm focused on early-stage blockchain investments, views its support for D2X as strategic in driving broader adoption of digital assets.
USD-denominated futures now live
In response to growing institutional demand, D2X recently launched USD-denominated futures for Bitcoin (BTC) and Ethereum (ETH). Options contracts for both assets are expected to follow soon. The company’s existing product suite includes BTC-USD, ETH-USD, BTC-EUR, and ETH-EUR dated futures.
D2X’s infrastructure offers an alternative to centralised custody by holding collateral off-exchange in partnership with regulated banking institutions, a model designed to appeal to compliance-focused financial entities.
Backed by strong leadership and previous success
Founded by Theodore Rozencwajg, Don van der Krogt, and Laetitia Grimaud, D2X positions itself as a bridge between traditional finance and the digital asset space. The exchange aims to provide institutional-grade solutions within a secure and compliant framework.
Last year, D2X raised €9.1 million in a Series A round and became the first entity in the European Union to secure a MiFID MTF licence for cryptocurrency derivatives, granted by the Dutch Authority for Financial Markets (AFM). The firm continues to expand on this regulatory achievement by offering consistent access to trading throughout the week.
A vision for institutional adoption
Commenting on the latest investment round, D2X Co-founder Theodore Rozencwajg said, “We are thrilled to welcome strategic investors who share our vision for a compliant and robust digital asset ecosystem. This funding allows us to enhance our product suite and accelerate the onboarding of Tier-1 institutions that require a trusted, regulated trading venue.”
By combining regulatory compliance, 24/7 trading capability, and a growing suite of futures and options products, D2X is positioning itself as a key player in Europe’s evolving crypto derivatives landscape.
