On-chain exchange Flying Tulip has brought in more institutional investors as it builds out its trading and risk management platform.
Flying Tulip said Amber Group, Fasanara Digital and Paper Ventures have joined its list of institutional backers, in addition to existing investors CoinFund, Lemniscap, FalconX, Nascent, Selini and Susquehanna Crypto, among others. A central feature of the platform is what Flying Tulip calls a ‘Perpetual PUT’ The company runs an on-chain exchange that combines spot trading, derivatives, credit, a native stablecoin (ftUSD) and on-chain insurance within a single cross-margin system