January 21, 2025
GRVT, a cryptocurrency exchange operating on the ZKsync platform, has completed a $5 million equity funding round. The investment was led by Further Ventures, a venture capital firm affiliated with Abu Dhabi’s sovereign wealth fund, ADQ. This round brings GRVT’s total funding to $14.3 million, building on earlier pre-seed and seed rounds, as well as a private token sale conducted in March 2024.
The platform, which launched its mainnet alpha last month, is designed to handle crypto perpetual trading and has already reported an average of $50 million in daily trading volume. GRVT’s user base includes over 32,000 individuals who have completed KYC verification, alongside 55 institutional clients. The funds will be utilized to expand GRVT's offerings, including the introduction of spot and options trading.
Additionally, the exchange plans to upgrade its Bermuda crypto business license and pursue further regulatory approvals in jurisdictions like the European Union, Dubai, and the Abu Dhabi Global Market (ADGM).
About GRVT
GRVT is a ZKsync-based cryptocurrency exchange specializing in hybrid trading solutions. It aims to merge decentralized finance (DeFi) with traditional financial systems by prioritizing compliance and self-custody. Initially focused on perpetual trading, the platform is expanding its capabilities to cater to broader market needs. GRVT has a growing presence in the global crypto market, supporting individual users and institutional clients alike.
Website: https://grvt.io/
X: @grvt_io
About Investor
Further Ventures
Further Ventures is a venture capital firm supported by the sovereign wealth fund ADQ. The firm manages a $200 million fund and invests across various sectors, including blockchain and financial technology. Its portfolio includes projects such as Dfns, Twinstake, and Tungsten, with a focus on advancing blockchain technology and expanding its use cases.
Location: Abu Dhabi, UAE
Website: https://www.further.ae/
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