New Digital Asset Exchange by Former Coinbase Executives Uses PayPal's Stablecoin

user avatar

by Giorgi Kostiuk

2 years ago

Made with AI

  1. TrueX Platform Launch
  2. TrueX Founding Team
  3. Institutional Investor Engagement in Web3


    4. Former Coinbase executives founded a new digital asset exchange platform, TrueX, using PayPal USD stablecoin for settlements.

    TrueX Platform Launch

    On September 18, True Markets unveiled TrueX, a crypto trading platform. The platform secured $9 million in funding from investors like Paxos, Solana Foundation, and Aptos. TrueX will utilize the PYUSD stablecoin from Paxos as its default settlement currency, as confirmed in the company's press release.

    TrueX Founding Team

    TrueX founders, Vishal Gupta and Patrick McCreary, previously held key roles at Coinbase. Gupta was the head of exchange and also oversaw the launch of the USD Coin at Circle. McCreary, on the other hand, was a senior engineer at Coinbase and was part of the team that developed the company’s International Exchange. Both also worked at Goldman Sachs. Gupta mentioned that they aimed to make exchanges safer and more trusted.

    Quote_W_A: 'Clients now demand the security of true segregation of execution and custody. Our team has worked diligently to meet these needs, leveraging the power of stablecoins to facilitate efficient liquidity and settlement solutions.' - said Gupta.

    Institutional Investor Engagement in Web3

    Infrastructures for bringing institutional investors into the Web3 space continue to develop globally. On September 17, Singapore’s DBS Bank announced that it would start offering crypto options and structured notes to institutional investors in the fourth quarter of 2024. These tools allow professional traders to hedge their positions against market volatility.

    The launch of the TrueX platform and the expansion of crypto services for institutional investors highlight the growing interest and adoption of digital assets on a global scale.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Project Eleven and Quantus Collaborate on Strongpoint for Future Crypto Custody

Project Eleven has partnered with Quantus to enhance crypto custody solutions through the integration of the Quantus Network into Strongpoint, targeting support for post-quantum cryptography by Q1 2027.

user avatarRajesh Kumar

Sui and Alibaba Cloud Collaborate on AI Agent Payment Integration

Sui and Alibaba Cloud are developing a payment model for AI agents to autonomously pay for cloud services using stablecoins.

user avatarLucas Weissmann

Moscow Exchange to Launch Cryptocurrency Trading on December 1

Moscow Exchange is set to begin offering cryptocurrency trading on December 1, 2023, following a new regulatory framework in Russia.

user avatarFilippo Romano

OSL Group Launches Tokenized USDGO Plus SP Fund

OSL Group has successfully tokenized the USDGO Plus SP fund, providing custody and distribution through its licensed platform in Hong Kong.

user avatarEmily Carter

PowerCompute Increases Bitcoin Production While Reducing Debt

PowerCompute mined 81 BTC in September 2023, a 37 BTC increase from last year, while reducing its secured debt from $237 million to $125 million.

user avatarKaterina Papadopoulou

NextBlock Fully Funds Soda Labs' Seed Round with $3 Million Investment

NextBlock has invested $3 million in Soda Labs, fully funding the company's seed round to develop privacy infrastructure for financial applications.

user avatarTomas Novak

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.