Due to the disparate pricing across cryptocurrency exchanges, Tagomi takes trade orders and places them across several exchanges in search of the lowest prices. The brokerage recently raised $12 million that it plans to use to add new features such as margin trading, lending, and shorting. In total, Tagomi has raised $27.5 million from Paradigm, Pantera Capital, and Peter Thiel’s Founders Fund.
In order to secure the virtual currency permit, as well as a money transmission license, Tagomi faced DFS questions about cybersecurity and its anti-money laundering practices.
With the new BitLicense, the firm has chosen to trade with Bitcoin, Ethereum, Bitcoin Cash, and Litecoin in New York—though the DFS has given the firm approval to trade additional cryptocurrencies as well.
Read More.. Source Fortune