DrawBridge Lending

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DrawBridge Lending
Drawbridge logo.png
Founded 2018
Headquarters 141 West Jackson Boulevard Chicago, Illinois 60604
Key People Jason Urban, CEO; Tom Anderson, President; Jason O'Reilly, CFO and COO; Matt Lisle, GC and CAO
Employees 9
Products Bitcoin collateralized loans
Twitter @DrawBridgeLend
LinkedIn Profile
Facebook drawbridgelending
Website Drawbridge Home

DrawBridge Lending arranges loans to institutional clients that are backed by bitcoin. It was acquired by Galaxy Digital in November 2020.[1]

Products and Services

Investing

DrawBridge offers a cryptocurrency fund for accredited investors, the Crypto Fund Investment Opportunity, which uses options-based hedging strategies. The bitcoins in this fund are held in cold wallet storage.[2] The company also has a Bitcoin Managed Account Program (MAP), in which multiple separate accounts are managed to generate yield while mitigating risk using futures and options contracts from Intercontinental Exchange and the CME Group.[3]

Lending

DrawBridge offers cryptocurrency lending services as well as investment funds. The company facilitates commercial and high net worth individual loans, hybrid investment loans, and cryptocurrency IRA loans.[4]

The company was acquired by Michael Novogratz's Galaxy Digital Holdings Ltd in November 2020. As a result of the acquisition, according to Galaxy Digital's announcement at the time, DrawBridge's $150 million of customer money under management moved under Galaxy Digital's management. Drawbridge Lending's CEO, Jason Urban, became co-head of Galaxy Digital Trading.[5]

History

In July 2020, DrawBridge announced that its AUM (the total value of its assets under management) had surpassed $125 million.[6]

Key People

  • Jason Urban, CEO
  • Tom Anderson, President
  • Jason O'Reilly, CFO and COO
  • Matt Lisle, GC and CAO

References