Peter Thiel-backed crypto broker, Tagomi, went live today — and it's hoping to hold Wall Street's hand as it dips its toes into bitcoin

Quick Take

  • Tagomi is an electronic broker looking to help onboard crypto firms into the nascent market
  • The firm’s platform went live today and it already has a number of clients

Ask any large investor what's keeping them out of the nascent market of cryptocurrencies, and the answer might not necessarily be its breakneck volatility. But rather the fact that they don't know how to make a trade in the market. 

On Wall Street, large investors rely on brokers to help come up with the parameters of a trade and decide the best exchange venue and price at which to execute. In a sense, these broker-dealers sit between the investors making bet on the market and the markets itself. In crypto, there are very few firms in the broker business. Coinbase recently announced it has entered the business, saying it would act as an agency broker for large clients. And there are a slew of OTC desks conducting trades almost exclusively via phones and chat groups.

Tagomi, a startup backed by Peter Thiel's Founders Fund, however, is vying to be that one-stop shop for investors looking for a middleman to help them navigate the fragmented crypto markets electronically. The platform went live today. The firm earlier this year closed a $16 million fundraising round from investors including Digital Currency Group and SV Angel. The startup counts market structure wonk Greg Tusar, formerly of KCG as head of client market making and execution services, and a prior partner at Goldman Sachs, as a co-founder. It is being led by CEO Jennifer Campbell, who previously was on the investment team at Union Square Ventures for two years.

"The space is growing so fast and has so many different business models. For us, we saw a landscape that was made up of exchanges that offered up their own liquidity. Software vendors that sell you software but the end user is responsible for running their own exchange relations, and OTC dealers. None of these act effectively as the client's broker from the beginning to the end," Tusar said in an interview with