- JST Digital saw outsized growth in its market making businesses, growing its market making client list by more than 230% Year over Year
- JST Digital made 2 new venture investments in Q4 as it continued its support of companies building digital asset infrastructure and collaborated with its existing portfolio companies in their launch plans and growth initiatives.
- JST Digital saw significant growth in 2023 and added staff across trading, sales, operations, and technology and expects continued growth in 2024.
SUMMIT, N.J. and SINGAPORE, Jan. 18, 2024 /PRNewswire/ – JST Digital (“the Company” or “JST”), a global financial services firm specializing in digital assets, today announced its growth metrics, which included a 230% increase in its number of market making clients, alongside corporate updates for 2023. The Company leveraged its deep experience in decentralized finance by expanding its ability to serve clients looking for liquidity on decentralized exchanges. As a result, JST has emerged as a leader in decentralized exchange market making, having successfully implemented integrations to actively market make on nearly a dozen on-chain venues across a wide array of different layer-1 blockchains and layer-2 rollups.
Scott Freeman, Co-founder and Partner at JST Digital, commented on the news, “Despite the market downturn that started in the fall of 2022, we’ve seen the industry evolve throughout 2023 and it is prepped for continued growth in the coming year. We see the start of a new chapter for the industry with blockchain solutions becoming more robust, chain-agnostic, and user-centric, while also getting the regulatory clarity needed in countries like Singapore that will help ensure this new chapter is a brighter one. We continue to believe in the power of blockchain technology to solve real world problems, and we leverage our years of traditional financial experience to help our clients achieve their goals in a regulatory compliant manner.”
JST Digital experienced a steady increase in trading over the 2023 calendar year on both centralized exchanges and dApps, nearly tripling its list of onboarded clients during that period. The expansion of services offerings and growth has also resulted in JST increasing headcount by more than 20% to better support their DeFi focused offerings. JST Digital has also continued to grow its portfolio of venture investments, funding 2 new projects in Q4 while supporting several launches of companies in its growing portfolio of DeFi and trading infrastructure projects.
Leveraging the firm’s deep experience in on-chain trading and technology, in 2023 JST expanded its service offerings to include technical consulting. The firm has successfully provided clients with consultative services during the months before launch and provided substantial assistance to several protocols that were able to leverage JST’s technical expertise to accelerate and enhance their product roadmaps.
Todd Morakis, Co-founder and Partner at JST Digital, concluded, “The team at JST has been operating within the crypto ecosystem since 2014 and the full suite of financial services we’re able to offer today is a testament to how much this industry has grown. Recent rallies after the market was largely stagnant in 2023, along with the likely approval of the first spot Bitcoin ETF in January are two of the major headwinds for the asset class we see going into Q1 2024.”
About JST Digital
JST Digital is a crypto-native financial services firm specializing in market making, quantitative trading and digital asset management. The partners of JST have all spent over twenty years in traditional financial services. They entered the crypto markets as early as 2014, when they began to make markets for one of the early blockchain projects. Leveraging that experience, JST was launched in 2018 to provide a full suite of traditional financial services to institutions in the digital asset market.
For more information about JST Digital, please visit https://jstdigital.io/
M Group Strategic Communications (on behalf of JST Digital)
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SOURCE JST Digital
Originally published at https://www.prnewswire.com/news-releases/jst-digital-announces-strong-2023-growth–corporate-update-302038117.html
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