Five Bells, a digital asset post-trade infrastructure provider, has announced the successful closing of its seed financing round, led by Ego Death Capital, with participation from Timechain, Epoch, and Fulgur Ventures. The new capital will be used to expand the company’s software platform supporting trade confirmation, clearing workflows, settlement coordination, and risk mitigation across digital asset spot and derivatives markets.
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The funding comes at a time of heightened volatility in digital asset markets, where renewed scrutiny around counterparty exposure and operational resilience has intensified. While trading volumes and institutional participation have grown, post-trade infrastructure remains fragmented and heavily reliant on manual processes. Emails, spreadsheets, and inconsistent reconciliation methods continue to introduce operational risk and settlement uncertainty.
Five Bells has built proprietary trade matching and confirmation technology designed to standardize and automate these workflows. Its platform creates a structured, auditable record of bilateral transactions, covering more than 200 digital assets across both spot and derivatives markets. By organizing trade data for downstream clearing and settlement, the system aims to reduce errors, improve transparency, and streamline coordination between counterparties.
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In addition to confirmation technology, Five Bells has developed a bitcoin-native escrow tool that leverages the bitcoin blockchain in a role similar to an escrow agent or tri-party bank. This approach introduces structured, conditional settlement controls directly at the asset layer, helping to reduce bilateral settlement risk without introducing unnecessary intermediaries. The model reflects a broader effort to align settlement mechanics more closely with blockchain-native infrastructure.
Anthony Magliacca, Co-Founder of Five Bells, noted that while digital asset trading infrastructure has evolved rapidly, post-trade processes have not kept pace. The company’s focus, he explained, is on automating confirmation and strengthening clearing and settlement frameworks to reduce operational friction and counterparty risk for institutional participants.
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The founding team includes professionals with prior experience at NYDIG and Two Sigma, bringing institutional expertise in digital assets and quantitative risk management. With the new seed capital, Five Bells plans to deepen product capabilities and expand engagement with asset managers, OTC desks, and financial counterparties active in digital asset markets.
As institutional adoption of digital assets continues to expand, robust post-trade infrastructure is becoming increasingly critical. Five Bells’ latest funding round positions the company to help modernize the operational backbone of crypto markets — addressing risks that have historically limited scalability and trust in the ecosystem.
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