Five Bells, a digital asset post-trade infrastructure provider, has successfully closed its seed financing round. The investment was led by Ego Death Capital, with additional participation from Timechain, Epoch, and Fulgur Ventures.
The capital infusion is designated to expand Five Bells’ existing software capabilities. This software supports crucial functions such as trade confirmation, clearing workflows, settlement coordination, and risk-mitigating processes across both spot and derivatives markets for digital assets. This funding arrives amidst heightened volatility in digital asset markets, a period that has intensified scrutiny on counterparty exposure and the need for robust operational resilience.
Currently, post-trade operations—including confirmation, reconciliation, clearing, and settlement—are characterized by fragmentation and manual execution, which can increase operational risk and settlement uncertainties for market participants. Five Bells addresses these challenges through its proprietary trade matching and confirmation technology. This platform aims to replace manual processes, generating a standardized and auditable record of bilateral transactions and structuring trade data to facilitate downstream clearing and settlement between counterparties. The system supports over 200 digital assets across spot and derivatives markets.
Furthermore, Five Bells has developed a bitcoin-native escrow tool. This innovation allows counterparties to leverage the Bitcoin blockchain in a manner akin to an escrow agent or a tri-party bank. The system is designed to reduce bilateral settlement risk by implementing structured, conditional settlement controls directly at the asset layer, thereby avoiding the introduction of unnecessary intermediaries.
Anthony Magliacca, Co-Founder of Five Bells, stated, “Post-trade infrastructure has lagged the broader development of digital asset markets. Our focus is on automating confirmation and strengthening clearing and settlement processes to reduce operational and counterparty risk.” The Five Bells team comprises professionals with prior experience from NYDIG and Two Sigma, bringing expertise in institutional digital assets and quantitative risk management.
The seed capital will also be allocated to further enhance product features and deepen engagement with institutional market participants. This includes asset managers, OTC desks, and other financial counterparties actively involved in digital asset markets. More information is available at www.fivebells.io.
