D2X Secures $5M to Scale Institutional Crypto Derivatives Platform

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Amsterdam-based crypto derivatives platform D2X has raised $5 million (€4.3 million) in a fresh round of strategic funding as it pushes to become Europe’s go-to regulated exchange for institutional crypto futures and options trading.

The latest raise includes new backing from CMT Digital, Circle Ventures, and Canton Ventures, alongside continued support from existing investors Point72 Ventures, Tioga Capital, GSR, and Fortino Capital. The round reinforces growing demand among institutional investors for compliant, secure digital asset infrastructure, a sector long plagued by speculative platforms lacking proper oversight.

D2X stands out as the first fully regulated crypto derivatives exchange licensed under the European Union’s MiFID II framework, operating as a Multilateral Trading Facility (MTF). It claims to be the only platform of its kind in a top-tier jurisdiction offering full weekend trading access, an edge that speaks to the 24/7 nature of digital asset markets.

“D2X sets a new benchmark for crypto derivatives in Europe,” said Charlie Sandor of CMT Digital. “The platform fills a critical void for institutions needing clear regulatory compliance and reliable weekend execution, which traditional structures often fail to provide.”

The firm’s operational model reflects lessons from past market failures. Collateral is held off-exchange in partnership with banks, a significant reassurance for institutions still wary of centralised crypto platforms, particularly in the wake of collapses like FTX, which exposed investors to unacceptable levels of custodial risk.

D2X’s co-founder and CEO, Theodore Rozencwajg, emphasized the need for robust, transparent architecture built for the realities of institutional finance. “We’re not just building another exchange,” he said in a recent statement. “We’re creating an infrastructure that lets institutions access digital asset markets with the safeguards they’ve come to expect from traditional finance.”

The exchange offers physically settled futures and options, allowing institutions to hedge digital asset exposure without the need for actual token custody. This hybrid approach, combining real-world compliance with crypto-native tools, is attracting serious attention from global asset managers and hedge funds.

Despite the growing appetite for institutional crypto products, many investors remain constrained by weak regulatory clarity in jurisdictions like the UK, where the current Labour government’s mixed messaging continues to cast a shadow over fintech innovation. In contrast, Europe’s clear MiFID II regime offers companies like D2X the certainty required to scale responsibly.

Point72 Ventures, which backed D2X in its earlier seed round, returned for this raise, signaling continued confidence in the platform’s vision and ability to deliver a secure institutional gateway to crypto markets.

With fresh capital in hand, D2X plans to expand its product offering, scale its technology stack, and bolster its compliance framework, positioning itself as a regulated alternative to the offshore platforms still dominating crypto derivatives volumes.

As the industry matures, the market is shifting toward serious players offering transparency, custody safeguards, and round-the-clock access, and D2X appears well-placed to lead that evolution across Europe and beyond.