September 18, 2024
TrueX, a non-custodial exchange focused on stablecoins, has officially launched, marking a new phase in crypto markets. As the flagship product of True Markets, TrueX aims to provide global markets and liquidity services through advanced trading technology.
Project | Latest Raise | Latest Raise Date | Stage | Category |
|---|---|---|---|---|
True Markets | $9M | September 18, 2024 | Seed Round | DeFi |
Founded by Vishal Gupta and Patrick McCreary, who have backgrounds at Coinbase, Circle, and Goldman Sachs, TrueX is developed by a team skilled in stablecoins, lending, and exchange infrastructure. The platform features a proprietary matching engine, secure execution and custody, and seamless stablecoin settlement. Partnering with Paxos, TrueX uses PayPal USD as the default settlement currency, ensuring secure and efficient transactions.
TrueX has raised $9 million in seed funding from investors like RRE Ventures, Reciprocal Ventures, Paxos, Accomplice Blockchain, Hack VC, Solana Foundation, and Aptos.
Vishal Gupta, Co-Founder and CEO, highlighted the importance of secure execution and custody in crypto markets, emphasizing TrueX’s commitment to leveraging stablecoins for efficient liquidity and settlement solutions. The launch also includes a Liquidity Program to reward institutional clients with discounted fees and an equity competition offering up to $1 million in company equity to top traders.
About True Markets / TrueX
TrueX is a non-custodial exchange that focuses on stablecoins, offering a secure and efficient trading platform. It features advanced trading technology, including a proprietary matching engine and segregated execution and custody. TrueX uses PayPal USD for seamless stablecoin settlements and aims to provide reliable markets and liquidity services globally.
Website: https://www.truex.co/
About Investor
RRE Ventures, Reciprocal Ventures, Paxos, Accomplice Blockchain, Hack VC, Solana Foundation, and Aptos.
A central focus of investor activity in the cryptocurrency space is the evaluation of new crypto projects to invest in, particularly those with huge potential. This blog provides insight into what new ventures are benefiting from venture capital support (VC funding in crypto). These new crypto projects, funded by professional investors, can dictate the next narrative in crypto and the next big crypto movers.
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