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 Cache 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, caches will be stored in your inventory and can be opened with Keys.

Other news

Hyperscale Data Ceases Bitcoin Mining to Focus on AI

chest

Hyperscale Data has ceased Bitcoin mining operations at its Michigan facility to accommodate a new AI customer, potentially generating over $12 billion in revenue.

user avatarRajesh Kumar

PONS Token Surges on Robinhood Chain

chest

The PONS token has seen a significant increase in value and market capitalization on the Robinhood Chain, with a price rise to 0.5978 and a market cap exceeding 430 million, marking a 3182% increase in just 24 hours.

user avatarMiguel Rodriguez

Ecb Releases New Report on Editorial Standards

chest

The European Central Bank has published a report emphasizing its strict editorial policy that focuses on accuracy, relevance, and impartiality.

user avatarLuis Flores

New Report Released Based on Sec Information

chest

A report has been generated based on the information released by Sec. This release aims to inform the public and increase awareness of the information provided.

user avatarArif Mukhtar

Metaplanet Acquires Additional 1,007 Bitcoin, Reaches 20,000 BTC Milestone

chest

Metaplanet has acquired an additional 1,007 Bitcoin for $69 million, reaching a total of 20,000 BTC.

user avatarMaria Gutierrez

New Editorial Guidelines Introduced to Guarantee Accurate Reporting.

chest

A new editorial policy has been launched that emphasizes accuracy, relevance, and impartiality in all reports.

user avatarDavid Robinson

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.