BlockBeats news: On March 13, Velotrade, a crypto proprietary trading firm founded by former derivatives traders from JPMorgan, Dresdner Kleinwort, and Bank of America, announced the launch of a crypto proprietary trading platform that allows traders to manage trading accounts ranging from $50,000 to $2 million without using their own capital, with profits shared between the trader and the firm.
Velotrade stated that its team’s previous fintech trade finance platform has paid out $2.5 billion to clients since 2016. The new platform will support only crypto asset trading and incorporate AI hedging and institutional liquidity bridging, replicating traders’ positions in real markets in sync with their profits to achieve a business model tied to trader performance. The platform offers up to 6x leverage on BTC and ETH.