Five Bells Closes Seed Round to Expand Digital Asset Post-Trade Infrastructure Platform

Five Bells, a digital asset post-trade infrastructure provider, announced the closing of its seed financing round led by Ego Death Capital, with participation from Timechain, Epoch, and Fulgur Ventures. The company will use the proceeds to expand its existing software that supports trade confirmation, clearing workflows, settlement coordination, and risk-mitigating processes across digital asset spot and derivatives markets.

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The raise comes during a period of elevated volatility in digital asset markets, conditions that have drawn renewed attention to counterparty exposure and operational resilience. Post-trade processes, including confirmation, reconciliation, clearing, and settlement, remain fragmented and largely manual, exposing participants to operational risk and settlement uncertainty.

Five Bells has developed trade matching and confirmation technology designed to replace manual emails, spreadsheets, and reconciliation workflows. The proprietary platform creates a standardized, auditable record of bilateral transactions and organizes trade data to support downstream clearing and settlement between counterparties, covering over 200 digital assets across spot and derivatives markets.

In addition, Five Bells has built a bitcoin-native escrow tool that enables counterparties to use the bitcoin blockchain in a manner analogous to an escrow agent or tri-party bank. The system is designed to reduce bilateral settlement risk by introducing structured, conditional settlement controls directly at the asset layer without adding unnecessary intermediaries.

“Post-trade infrastructure has lagged the broader development of digital asset markets,” said Anthony Magliacca, Co-Founder of Five Bells. “Our focus is on automating confirmation and strengthening clearing and settlement processes to reduce operational and counterparty risk.”

The team includes professionals with prior experience at NYDIG and Two Sigma, bringing institutional experience in digital assets and quantitative risk management. Five Bells will use the seed capital to expand product capabilities and deepen engagement with institutional participants, including asset managers, OTC desks, and other financial counterparties active in digital asset markets.

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