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About SFOX
sFOX is a crypto prime broker for institutions that has unified trading, custody and settlement in a single account since 2014. It addresses the counterparty risk of splitting balances across venues and moving coins to trade: smart order routing splits parent orders across more than 35 liquidity providers by price, depth and fill probability, and assets need not leave custody to execute. Custody sits with its Wyoming trust entity, is bankruptcy-remote, and supports trading and staking directly from the account.
The offering spans embedded infrastructure, execution, custody and prime services; banks and fintechs use one API for order flow, clearing and compliance, while hedge funds draw on T+28 settlement and credit lines. Unlike exchange custody, it separates execution from safekeeping; unlike routing software, it carries trust duties and a charter, and its clients are concentrated among US-regulated institutions.
Founded in 2014, SFOX established itself as a crypto prime dealer. In 2018, it raised $22.7 million in Series A funding led by Tribe Capital and Social Capital, with participation from Y Combinator, Khosla Ventures, and Digital Currency Group, marking a key milestone in institutional adoption.
In 2021, SFOX launched the first trading platform designed specifically for hedge funds, aggregating liquidity from 40+ venues. In 2022, its Singapore entity received a Major Payment Institution license from the Monetary Authority of Singapore, a significant regulatory achievement.
In 2024, SFOX Connect was launched as a full-stack crypto API platform, enabling businesses to integrate digital asset capabilities. By 2025, SFOX surpassed $600 billion in cumulative transaction volume, solidifying its position as a leading institutional infrastructure provider.
July 30, 2026, sFOX released platform data showing dark-pool execution rising from near zero in April to 15% of monthly volume in June (with $147 million in dark-pool volume in May alone), and launched a redesigned unified platform integrating trading, custody, liquidity, and compliance.
As an institutional crypto prime broker, sFOX connects 40+ liquidity providers and offers custody through Wyoming-regulated SAFE Trust Co. with over $100 million in insurance coverage.
Future strategy and roadmap: sFOX plans to keep consolidating institutional crypto infrastructure via a single API, expand dark pools and smart order routing, and deepen bank and fintech client coverage around prime services like custody, staking, and credit.
Javier Martinez — CEO; JD from the University of Chicago Law School; former General Counsel and Chief Compliance Officer at OANDA.
Akbar Thobhani — Co-founder & President; MBA from MIT; former Head of Growth & Business Development at Airbnb.
George Melika — Co-founder; trading platform and payment system developer.
David Arnold — CFO; over two decades of finance and operations experience.
Bilal Chinoy — CTO; leads engineering and technology.
In October 2021, SFOX's affiliate SAFE Trust Co. obtained a Wyoming state trust company charter from the Wyoming Division of Banking, the state banking regulator, authorizing fiduciary custody of client digital assets as a qualified custodian.