BCGAME - Free 5BTC Daily Bonus!- TurboFlow raises US$6 million in seed round.
- Forecasting markets are gaining ground in Asia-Pacific.
- On-chain platform seeks to increase institutional liquidity.
TurboFlow, an on-chain platform focused on prediction markets and perpetual futures contracts, announced it has raised $6 million in a seed round led by Pantera Capital. The investment also included participation from Susquehanna Crypto and Digital Currency Group.
The funding round was completed in March of this year and was structured as a SAFE agreement accompanied by token warrants. The company's market capitalization was not disclosed. According to founder Tony He, former co-founder and former partner of Amber Group, the three investors participated fully in the transaction.
Based in Hong Kong, TurboFlow aims to occupy a largely unexplored space in the Asia-Pacific region. The company is betting on the growth of prediction markets, a segment that has seen increased global interest following the popularization of Western platforms specializing in this type of trading.
According to He, there is a significant difference between the demand from Asian users and the availability of adequate institutional liquidity for that market.
“We’ve noticed a large gap between Asian users and adequate institutional liquidity, and we’re striving to be that bridge,” he said. “People here are interested in different topics and assets to trade. It’s about being close to the users and being able to deliver the products they want, quickly.”
In addition to commercial expansion, the company is also monitoring regulatory developments in the forecasting markets in the region. According to the executive, the rules vary between Asia-Pacific countries and are constantly evolving. Therefore, TurboFlow states that it is working with specialized consultants to build a structure compatible with the requirements of each market.
To sustain the platform's liquidity, the company intends to leverage its relationships with institutional participants in the sector and the experience accumulated by its team in market creation and user acquisition activities in Asia.
TurboFlow reported that its beta version has been operational for over six months. During this period, the platform surpassed 15 registered users and processed more than US$19 billion in trading volume.
“Traditionally, prediction markets have been the most popular product among cryptocurrency users, but our fastest-growing segment comes entirely from prediction markets — which proves to us that offering a genuinely new trading experience is what matters most,” he said.
The company defines its model as a "high-speed event trading" platform, allowing trades with entries starting from $2. Key features include fast settlement for short-term contracts and an interface designed to facilitate the user experience.
Currently, TurboFlow has over 30 employees, with the majority of the team based in Hong Kong. The company's strategy is to maintain a lean structure while expanding its presence in the cryptocurrency market and in the region's prediction markets.
