Sequence Markets

Low latency infrastructure for fragmented crypto markets

Winter 2026ActiveFintechArtificial IntelligenceFintechCrypto / Web3New York, NY, USA

Company

Sequence Markets helps crypto traders save millions in hidden slippage by sourcing liquidity across CEX and DEX venues in one workflow. Digital asset liquidity is fragmented across hundreds of venues. Teams are forced into manual venue-by-venue workflows, stitching order books in spreadsheets, with zero visibility into execution quality. The result? Inconsistent fills and millions in hidden slippage. We built ultra-low-latency execution infrastructure (colocated servers, hardware accelerated networking, compiled code speed) with sub 12 microsecond internal latency (faster than NYSE). Our stack enables strategies that weren't possible before. Save millions by eliminating hidden slippage. Make billions by trading faster and smarter

Verdict

High Signal

Market Opportunity

Crypto execution infrastructure is a real, large market — institutional crypto trading volume runs into trillions annually and fragmented liquidity is a genuine pain point for funds, market makers, and HFT shops. Clear ICP: HFT, systematic traders, market makers, family offices, asset managers. Monetization path via infrastructure fees, execution spread capture, or SaaS pricing is credible. Tokenized assets expansion further grows TAM.

Low Signal

Founder Signal

Both founders appear to be current undergrads. Peter Bai (CEO) is at Ivey Business School with internship experience at UPP Ontario (4 months, macro quant) and TMX Group (4 months, equity markets) — solid internships but no full-time professional tenure. Muhammad Awan (CTO) is a UWaterloo CS student with 17 months as Founding Engineer at Boardy AI and prior dev roles — strongest technical signal on the team. Neither has shipped a commercial product at scale, no exits, no deep finance or exchange infrastructure experience.

Low Signal

Competition

Directly competes with established players: Talos (institutional crypto trading infra, well-funded), Floating Point Group, Paradigm, and existing smart order routing layers from Genesis/B2C2. CEX aggregation is also offered natively by many prime brokers and OTC desks. The 'fastest latency' claim is hard to sustain as a moat — Jump, Wintermute, and other prop shops build their own. No proprietary data moat or network effect described.

Medium Signal

Product

Web beta is live with documented latency specs (12μs internal, sub-17ms WebSocket, sub-5ms FIX), 38+ venues aggregated, and real-time TCA. However, product is still waitlist/demo stage with no named customers, no revenue metrics, and Discord/Desktop versions 'coming soon.' Technical depth is visible but no proof of live trading volume or paying users.

OverallC Tier

Sequence Markets is attacking a real institutional pain point — fragmented crypto liquidity and slippage — with technically credible low-latency infrastructure. The product has meaningful spec depth for a pre-revenue startup. However, the core problem is the team: two undergrads with internship-level experience trying to sell into institutional trading desks where trust, compliance, and track record are table stakes. Muhammad's Founding Engineer stint at Boardy AI is the strongest signal but it's a consumer AI product, not fintech infra. Peter's UPP and TMX internships give market familiarity but not the credibility to close HFT shops. Competition from Talos, FPG, and well-capitalized prop trading infra is fierce. Without a named institutional customer or revenue, this is a technically interesting bet on very junior founders in a relationship-driven, trust-intensive market.

Active Founders

Peter Bai

Founder

I LOVE MARKETS RAHHHH

Muhammad Awan

Founder

I like building cool projects

Sequence Markets

TierC Tier

BatchWinter 2026

Team Size5

StatusActive

LocationNew York, NY, USA