BlackRock-Backed Commodities Exchange Startup Abaxx Raises Cash
- Canadian firm is led by former Goldman strategist Josh Crumb
- It’s planning to launch contracts for LNG, battery metals
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Abaxx Technologies Inc., a financial technology startup founded by a former Goldman Sachs Group Inc. commodity strategist, is raising fresh equity as it prepares to launch trading in commodities futures.
The Canadian company, which says it’s on the cusp of opening a new exchange and clearinghouse based in Singapore, will use the money to fund operations and growth. The firm expects to handle its first trades in the next few weeks, Chief Executive Officer Josh Crumb said.