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

Chainlink and Moody's Ratings Complete Crosschain Distribution Pilot

Chainlink and Moody's Ratings have successfully completed a pilot project utilizing the CrossChain Interoperability Protocol to distribute credit information across multiple networks.

user avatarArif Mukhtar

Solana Foundation Plans Custom Rings for Institutions

The Solana Foundation is working on Custom Rings for institutions, expected to provide configurable privacy and auditor access.

user avatarDavid Robinson

Helius Introduces Privacy Rings on Solana Mainnet

Helius has launched Privacy Rings on the Solana mainnet, enabling confidential asset transfers while maintaining transparency.

user avatarMaria Gutierrez

Aave's Governance to Review Proposed Changes

Aave Governance is set to review TokenLogic's proposal regarding reserve factors and its implications for liquidity and supplier incentives.

user avatarJacob Williams

TokenLogic Proposes Changes to Aave's Reserve Factors

TokenLogic has proposed adjustments to Aave's reserve factors across 54 reserves, potentially increasing annual revenue by $35 million.

user avatarAndrew Smith

Apex Group Joins Hedera Council to Enhance Governance in Digital Assets

Apex Group has joined the Hedera Council to enhance governance in digital assets and explore tokenization initiatives.

user avatarZainab Kamara

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.