Italian Crypto Exchange The Rock Trading Ceases Operations

The Rock Trading srl, the Milan-based cryptocurrency exchange platform, has halted operations due to problems encountered in liquidity management. This is stated in a message that has appeared on the company’s homepage since Friday, February 17th.

The Rock Trading is the quintessential Italian token exchange, as well as the first internationally to start up: it has been operating since 2011 when it launched linden-dollars in Second Life.

The Rock Trading, founded by Andrea Medri and Davide Barbieri, is controlled by Digital Rock Holding spa, which in September 2020 had closed an equity crowdfunding campaign on Opstart, raising €1.5 million, based on a pre-money valuation of €13.5 million.

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Digital Rock Holding is a cryptocurrency-related ecosystem capable of covering the entire chain of services needed to operate in this market

In addition to The Rock Trading srl, the ecosystem also includes Bitcoin processor tinkl. it srl, which allows merchants to collect payments in Bitcoin; the development company OneDime srl; Cryptovalues, the European consortium engaged in promoting the culture related to the blockchain and cryptocurrency ecosystem; and custodian wallet CheckSig srl, a reality that has created a bitcoin custodian service with insurance coverage.

In December 2021, CheckSig raised an initial round, in addition to Digital Rock Holding, also from Intesi Group (among the Italian leaders in digital signatures), and a parterre of entrepreneurs and business angels with relevant experience in financial services and strategic consulting, which had led to a post-money valuation of 20 million. CheckSig then announced in September 2022 the opening of a new round.

In September 2020 Digital Rock Holding also acquired in a capital increase a 3 percent stake in Seed Set

Seed Set is a system integrator launched by Seed Venture to integrate on crowdfunding portals its blockchain-based startup funding platform. Seed Venture was founded in 2017 in Switzerland by Italians William Pividori (CEO) and Sergio De Prisco. The company offers a smart-contract platform, completely open and decentralized, on the Ethereum blockchain for financing startups (or baskets of them) proposed by intermediaries and/or business sidekicks.

The platform, represented by its native token called SEED, fulfills by design the functions of issuing, managing, and transferring tokens for the crowd-investing and venture capital market. On September 30th, 2019, Seed Venture listed its SEED token, with which investors can finance incubators’ baskets of startups. The token was listed on The Rock Trading

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First published in Be Beez, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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