Former JPMorgan and other institutional traders launch the crypto proprietary trading platform Velotrade

Cryptocurrency proprietary trading firm Velotrade, founded by former derivatives traders from JPMorgan, Dresdner Kleinwort, and Bank of America, announced the launch of a cryptocurrency proprietary trading platform that allows traders to operate trading accounts ranging from $5,000 to $200,000 without the need for their own capital, sharing profits instead.

Velotrade stated that its team has previously operated a fintech trade finance platform that has cumulatively paid out $2.5 billion to clients since 2016. The new platform will only support cryptocurrency trading and will use AI hedging and institutional liquidity bridging to replicate positions in the real market when traders are profitable, creating a business model tied to trader earnings. The platform offers up to 6x leverage on BTC and ETH.