New Crypto Exchange Launched
Two former Coinbase executives, Vishal Gupta and Patrick McCreary, have launched TrueX, a cutting-edge non-custodial exchange focused on stablecoin trading. The exchange features a proprietary matching engine and promises secure segregation between trade execution and asset custody.
Raising $9 Million in Seed Funding
TrueX has secured $9 million in seed funding from various investors, including RRE Ventures, Reciprocal Ventures, Paxos, Accomplice Blockchain, Hack VC, Solana Foundation, and Aptos.
Leveraging Stablecoins for Liquidity and Settlement
The exchange uses PYUSD, PayPal's dollar-backed stablecoin, as the default settlement currency, aiming to facilitate efficient liquidity and settlement solutions for its clients.
Catering to Demand for Secure Segregation
According to Vishal Gupta, CEO of TrueX, the exchange is designed to meet the growing client demand for true segregation between execution and custody, making the crypto markets safer and more trusted.
Expanding the Crypto Ecosystem
The launch of TrueX represents an industry shift, as the exchange aims to provide a more secure and efficient platform for stablecoin trading, contributing to the overall development of the cryptocurrency ecosystem.
The information provided in this article is for informational and educational purposes only, based on news and sources gathered from the internet. This content should not be considered as investment advice, financial guidance, or a suggestion to buy or sell any digital assets. Before making any financial decisions, we recommend consulting with a professional financial advisor and conducting your own research. The author and the blog are not responsible for any losses or damages that may arise from using this content.
Comments