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Skew, a data analytics platform for cryptocurrency markets, has today announced the launch of skewTrading to provide its institutional users with access to liquidity across crypto capital markets, and a $5m funding round.

The new funding round was led by Octopus Ventures, a London-based £1.2bln venture fund with deep fintech expertise. Skew has raised $7mln in funding since its inception.

The funds will be used to expand further its London-based engineering team and strengthen its distribution capabilities.

skewTrading is a new trade execution and electronic brokerage platform, connecting institutional investors with liquidity providers across listed and over-the-counter (OTC) products, ranging from spot to futures and options.

The platform leverages existing innovative clearing and settlement infrastructure to provide a truly superior experience mitigating credit risk.

skew’s CEO Emmanuel Goh comments: “The industry remains in its infancy with the “institutional moment” for crypto still ahead of us. We want to position skew as the gate to the cryptocurrency markets for professional market participants where they can access real-time analytics and liquidity networks using the same account.”

“We are excited about this unique partnership with Kyte Broking. The combination of our expertise in cryptocurrency derivatives with their experience operating within regulated traditional capital markets will allow skew to be a natural choice for financial institutions looking to enter the cryptocurrency markets.”

Zihao Xu, Octopus Ventures’ investment manager and skew’s new board director, comments: “We’re delighted to be supporting Emmanuel, Tim and the rest of the skew team on their journey to help open up crypto to institutions. The team has already built a sterling reputation off the back of skewAnalytics, and the launch of skewTrading adds an important dimension to the company’s offering.

“We look to back pioneers reimagining the future of money, and skew falls squarely into that mandate.”