March 21, 2024
Rails, a decentralized crypto exchange, has secured $6.2 million in seed funding. Slow Ventures led this round, which also included CMCC Global, Round13 Capital, and Quantstamp. The funds will be used to expand Rails' engineering team and enhance its licensing and regulatory strategy to ensure full compliance.
Project | Latest Raise | Latest Raise | Stage | Total Raise | Category |
|---|---|---|---|---|---|
Rails | March 21, 2024 | $6.2M | Seed | $6.2M | Trading |
Rails is in the process of launching an offshore service in select crypto-friendly countries, excluding the U.S. The exchange aims to combine centralized and decentralized technologies, providing both safety for customer deposits and robust trading options, particularly in crypto derivatives like perpetual futures contracts. This feature is particularly important for institutional investors who have been seeking reliable trading platforms since FTX's collapse in 2022.
The exchange has already privately secured over $10 million in capital and plans to open its platform to select beta testers in May. The public launch is expected in September or the fourth quarter of this year. Rails will focus on user education regarding crypto wallets and fund withdrawals, ensuring a seamless user experience.
Rails plans to further develop its product by adding social functions, a leaderboard, capabilities, and partnerships with industry players. The aim is to create a comprehensive trading platform that meets the needs of both novice and experienced traders.
About Rails
Rails operates as a crypto derivatives trading company. It focuses on decentralized custody and centralized trade execution to provide a secure and efficient trading environment.
Website: https://rails.xyz/
X Account: https://x.com/rails_xyz
X Followers today: 745
About Investor
Investor: Slow Ventures
Slow Ventures, a venture capital firm known for its investments in early-stage companies, led the seed funding round. Slow Ventures has a history of supporting startups in technology and finance, providing both capital and strategic guidance to help them achieve growth and innovation.
Location: United States
Website: https://slow.co/
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