Empirica

What Empirica does

Empirica Sp. z o.o. is a Polish-headquartered financial technology company founded in 2012 that develops and operates algorithmic trading systems for both traditional and digital asset markets. The company's legacy book of business covers IT systems for traditional financial institutions, including the Warsaw Stock Exchange, Trigon Dom Maklerski, Dom Maklerski Banku Ochrony Środowiska, and a wealth management deployment at ING Bank Śląski. Over time, Empirica has redirected primary commercial focus toward the cryptocurrency market, where it now operates as a B2B market maker and liquidity provider for token projects and crypto exchanges.

The company's core digital-asset offering comprises three interconnected services: crypto market making on centralized exchanges (CEX) such as Binance, Coinbase, Bitso, and Bitpanda Pro, as well as decentralized exchanges (DEX) like Uniswap and PancakeSwap; token liquidity provision with dynamic spread adjustment and transparent activity reporting; and listing-strategy advisory that helps token projects build trading fundamentals on regional exchanges before pursuing tier-1 listings. The platform is built around proprietary algorithmic trading engines that operate across both traditional and digital asset venues, with active engineering hiring (Java Developer, DevOps Engineer) to extend capacity.

Empirica generates revenue primarily through transaction fees on crypto market making and liquidity provision engagements. Pricing is not publicly disclosed; deals are customized based on token project requirements and liquidity volumes and are structured as multi-year enterprise contracts. Go-to-market is direct and relationship-based, with named enterprise clients including Radix Tokens, Aleph Zero, Bitso, and Bitpanda Pro. The company markets through a content hub, LinkedIn, X/Twitter, a YouTube channel (@EmpiricaCrypto), industry conference participation, and email newsletters, and was recognized in Deloitte's 2019 Technology Fast 50 Central Europe ranking.

Name

Empirica

Legal name

Empirica Sp. z o.o.

Website

https://empirica.pl

Company type

Private

Founded year

2012

Operating status

Operating

Headcount range

11–50 employees

Short description

Empirica Sp. z o.o. is a Poland-headquartered algorithmic trading firm founded in 2012 that provides crypto market making, token liquidity provision, and listing-strategy services to cryptocurrency token projects, centralized and decentralized exchanges, and select traditional financial institutions.

Ownership category

akta.pro rank

Product category

Crypto Market Making Services

NAICS

Securities and Commodity Contracts Intermediation and Brokerage (5231), Commodity Contracts Intermediation (523160)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200)

akta.pro primary industry

Crypto-Digital Asset Market Making (Spot & Derivatives) (FSACANAJ)

akta.pro secondary industry

Market Making & Liquidity Provision (FSADAJAC)

Keywords

• Crypto market making
• Liquidity provision
• Algorithmic trading systems
• Exchange listing strategy
• Wealth management technology

Headquarters

HQ city

Wroclaw

HQ country

Poland

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales

Revenue model

1. Crypto Market Making Services: Providing liquidity and market making services for cryptocurrency tokens and exchanges. Revenue is generated through service fees for liquidity provision and market making activities on crypto exchanges.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels6 records

Core offering

Empirica provides algorithmic crypto market making and liquidity provision services for token projects and cryptocurrency exchanges on both centralized (CEX) and decentralized (DEX) venues, including dynamic spread adjustment and transparent activity reporting. The company also develops and deploys algorithmic trading systems and wealth management technology for traditional financial institutions such as stock exchanges, brokerage houses, and banks. Customers are enterprises (token issuers, crypto exchanges, and financial institutions) engaged through direct, consultative, multi-year engagements.

Product overview

Empirica is a crypto market maker and liquidity provider that has built algorithmic trading solutions for financial markets since 2012. The company operates a platform comprising three core interconnected services: Crypto Market Making (providing liquidity on CEX/DEX exchanges), Token Liquidity (liquidity provision and strategy implementation), and Listing Strategies (advisory services for exchange listings). They also offer Wealth Management solutions and serve institutional clients including the Warsaw Stock Exchange, ING Bank Śląski, and major crypto exchanges.

Differentiator

Problem solved

Functional benefit

Products and services

• Crypto Market Making Algorithmic market making services that provide liquidity for crypto tokens on centralized exchanges (CEX) and decentralized exchanges (DEX), dynamically adjusting ranges on exchanges and ensuring transparent token activity reporting. Targeted at token projects and crypto exchanges.
• Token Liquidity (Płynność Tokena) Liquidity provision services for token projects, implementing effective liquidity strategies including dynamic spread adjustment on DEX exchanges, with regular transparent reports on token market activity. Targeted at cryptocurrency token projects.
• Listing Strategies (Strategie Listingowe) Advisory services helping token projects build strong foundations on regional exchanges before progressing to tier-1 platforms, focusing on organic growth with lower listing fees. Targeted at cryptocurrency token projects seeking exchange listings.
• Algorithmic Trading Systems IT systems for financial markets developed since 2012, used by financial institutions for algorithmic trading on traditional and digital asset markets. Deployed at the Warsaw Stock Exchange, Trigon Dom Maklerski, Dom Maklerski Banku Ochrony Środowiska, and other institutions.
• Wealth Management Solution Wealth management technology platform deployed at institutional financial clients, including ING Bank Śląski. Targeted at banks and financial institutions requiring modern wealth management infrastructure.

Quantifiable outcome

• Reduced listing costs by building fundamentals on regional exchanges before tier-1 platforms

Named customers8 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Scale indicators2 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• Wintermute: One of the largest crypto-native market makers and liquidity providers globally, offering spot and derivatives liquidity across CEX and DEX venues. Directly competes with Empirica for token project and exchange liquidity mandates.
• GSR Markets: Crypto market maker and liquidity provider offering algorithmic trading, options, and structured products across centralized and decentralized exchanges. Highly comparable in business model to Empirica's core market making services.
• Cumberland (DRW): Cumberland is the crypto liquidity arm of DRW, one of the largest institutional crypto market makers globally. Competes with Empirica for token project liquidity and exchange partnerships with deeper balance sheet capacity.
• B2C2: Institutional crypto liquidity provider and OTC desk, recently acquired by SBI. Provides 24/7 pricing and electronic market making across major venues, competing directly with Empirica for institutional and exchange clients.
• Keyrock: EU-based digital asset market maker and liquidity provider offering electronic market making, OTC, and structured products. Comparable to Empirica in geographic focus (European) and crypto-native market making services.
• Auros: Global crypto market maker and algorithmic trading firm providing liquidity on centralized exchanges and DeFi venues. Directly comparable in market making focus and algorithmic trading infrastructure.

Broad incumbents

• Flow Traders: Publicly traded global liquidity provider with deep presence in both traditional and crypto markets. While much broader in scope than Empirica, it competes in digital asset market making and brings significantly more capital and infrastructure.
• Galaxy Digital: Diversified crypto financial services firm with significant market making and trading operations. While much broader in scope, it competes for institutional crypto liquidity mandates and token project engagements.

Emerging players

• Tokka Labs: Crypto-native market maker with strong focus on token project liquidity and exchange partnerships. A smaller but rapidly scaling competitor in a similar niche to Empirica.
• Maven 11: Digital asset market maker and lending provider with focus on tokenized assets and DeFi protocols. Overlaps with Empirica's DEX market making capabilities and emerging token project focus.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/empiricasoft
• YouTubeyoutube.com/@EmpiricaCrypto
• LinkedInlinkedin.com/company/empirica-s-a-

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Empirica