October 23, 2024
Shuttle Labs, the creator of a self-custodial digital asset trading exchange platform Genius, has announced the successful completion of a $6 million Seed funding round. Notable backers of this round include Anthony Scaramucci, CMCC Global, The SALT Fund, Flow Traders, and several former FTX employees. This capital injection aims to bolster the company’s operational capabilities and enhance its development efforts, positioning Shuttle Labs for future growth in the digital asset market.
Genius, Shuttle Labs' flagship product, is designed to provide a seamless trading experience by leveraging multi-party computation (MPC) technology. This innovative approach eliminates gas fees and the need for user-facing bridge interactions, facilitating cross-chain trading. The platform enables users to conduct transactions in under five seconds, enhancing convenience and accessibility.
Genius also features a sophisticated liquidity-matching engine that aggregates decentralized exchange (DEX) liquidity across multiple networks, ensuring that users receive the best prices without the typical fragmentation associated with DEXs. Unlike centralized exchanges that typically offer 300-1,000 assets, Genius claims to provide access to over 12 million tradable assets across eight networks at launch.
About Shuttle Labs
Shuttle Labs is a software development company focused on creating innovative solutions for the digital asset trading space. Its flagship platform, Genius, empowers users to engage in self-custodial trading without the hassle of gas fees or complex interactions. By integrating advanced technologies and a robust liquidity-matching engine, Shuttle Labs aims to revolutionize the digital asset exchange landscape and enhance user experience across the blockchain ecosystem.
Website: https://www.shuttlelabs.xyz/
X: @GeniusTerminal
About Investor
SkyBridge Capital
Founded in 2011, Anthony Scaramucci's firm, SkyBridge Capital, has become a significant player in the asset management industry, investing across various asset classes including cryptocurrency. The firm is dedicated to advancing financial opportunities through innovative investment strategies.
Location: New York, NY
Website: https://www.skybridge.com/
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