STS Digital, a Bermuda-based institutional crypto trading platform, has raised $30 million to expand its options business and market-making activities for more than 400 cryptocurrencies.

The round was led by CMT Digital, with participation from Kraken, Arrington Capital, and Fidelity’s investment arm, signaling strong institutional interest.

Executives say the funding will enable rapid market expansion, scaled product rollouts, and broader institutional adoption worldwide, with a focus on risk management and platform scalability.

No additional financial details such as valuation or use of proceeds are disclosed in the provided text.

STS Digital has grown to nearly 50 employees, counts notable clients like the Uniswap Foundation, and tripled revenue from 2024 to 2025 while reporting profitability.

CEO Maxime Seiler and cofounder Gideon Hyams, both former institutional traders, contend that options offer better protection against losses than perpetual contracts in volatile markets.

Arjun Sethi, CEO of Payward (Kraken), highlighted collaboration to expand Kraken’s derivatives capabilities and provide more trading avenues in fast-moving markets.

The $30 million round will be used to execute larger trades for bigger clients and to hire more staff as institutional demand grows.

The funding will also support hiring and scaling to meet rising demand from larger institutional-size clients.

STS Digital emphasizes that options with defined end dates cap potential losses and mitigate risk amplification seen with some perpetual-based strategies.

The piece notes ongoing industry dynamics, including interest in crypto derivatives like perps and newer platforms such as Hyperliquid and Lighter.

Overall context shows a shift toward institutions favoring derivatives like options for downside protection over perpetuals or spot exposure.