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

Hong Kong Launches Postquantum Cryptography Toolkit

On November 2, the Hong Kong Monetary Authority and the Hong Kong University of Science and Technology launched a postquantum cryptography assessment toolkit to help banks identify necessary upgrades to their cryptographic systems as quantum computing evolves.

user avatarMaria Fernandez

NYSE Partners with Major Firms for Tokenized Securities Initiative

On November 2, the New York Stock Exchange announced partnerships with Broadridge, Computershare, Equiniti, and Superstate to support a proposed tokenized securities venue aimed at enhancing infrastructure and improving market operations.

user avatarGustavo Mendoza

BTCPay Servers 247 Release Addresses Security Vulnerabilities

The latest release of BTCPay Servers, version 247, includes critical security fixes to enhance security for businesses operating their own Bitcoin payment servers.

user avatarRajesh Kumar

Aave Freezes tBTC Supply and Borrowing Amid Threshold's Pause

Aave contributors announced a freeze on additional tBTC supply and borrowing in its Ethereum Core market following Threshold's temporary pause of the token's mint and redeem functions.

user avatarMiguel Rodriguez

BitMine Immersion Technologies Reports Significant ETH Holdings

BitMine Immersion Technologies disclosed its holdings of 6,060,506 ETH as of November 1, with a significant portion staked.

user avatarLuis Flores

CrowdStrike Introduces AI Agent Kill Switch to Enhance Corporate Security

CrowdStrike has introduced an AI agent kill switch to enhance security in corporate networks, allowing administrators to stop unauthorized AI activities.

user avatarArif Mukhtar

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.