The news was announced by Efficient Borderland on Monday, with the company stating the funding will be used to "expand its balance sheet" and build its position within the crypto-asset sector. Efficient Frontier chief executive Roei Levav stated:

Sam Bankman-Fried'southward Alameda Research has invested $2 meg in Tel-Aviv-based algorithmic crypto market maker Efficient Borderland.

"This funding, coming from such a strong squad, is humbling and will assistance us to further improve our value proposition to our partners."

"Efficient Frontier is one of the almost avant-garde trading companies in our space," said Alameda co-founder and CEO Bankman-Fried. "We have been working together since the early days and their team, technology, and outlook on the industry is what made u.s. then excited to bring together their ride."

Efficient Frontier is also backed past venture capital firms Collider Ventures and Follow The Seed.

Since launching in 2017, the market maker has provided liquidity to dozens of crypto exchanges, including both centralized and decentralized platforms. Levav noted that Efficient Frontier'southward trade book grew by "hundreds of percent" during 2020, stating: "Last twelvemonth has been very of import for both the industry and our growth."

The company claims to have supplied liquidity for more than than i,000 pairings in both spot and derivatives markets and to be approaching $10 billion in monthly book across 50 different exchanges.

Last calendar month, Alameda Research announced it had invested $40 million into decentralized finance protocol Oxygen — a Solana-based lending platform that will exist integrated into travel app Maps.me. Alameda also invested $l one thousand thousand into Maps.me in January, with the travel app promising to bring DeFi to its 140 million users.