- Experienced Team Behind TrueX
- Significant Funding and Support from Prominent Investors
- Liquidity Program and Future of TrueX
Former Coinbase executives Vishal Gupta and Patrick McCreary have raised $9 million for their new project TrueX — a non-custodial crypto exchange.
Experienced Team Behind TrueX
TrueX is founded by Vishal Gupta and Patrick McCreary, both having worked at Coinbase, Circle, and Goldman Sachs. Gupta, who previously served as Head of Exchange at Coinbase, helped launch and develop various major crypto products, including USDC. McCreary, on the other hand, played a key role in the architecture and business development at Coinbase, particularly in high-volume daily trading operations. TrueX features an advanced matching engine, separate execution and custody security, and seamless stablecoin settlement.
Significant Funding and Support from Prominent Investors
TrueX secured $9 million in initial funding from a number of notable investors, including RRE Ventures, Reciprocal Ventures, Paxos, Accomplice Blockchain, Hack VC, Solana Foundation, and Aptos. Reciprocal Ventures also announced their support on their official account, stating: 'We are excited to support TrueX, a non-custodial exchange focused on stablecoins, representing the next evolution in the crypto market.' The funds will be used to strengthen the technological infrastructure, expand market reach, and enhance services for institutional players.
Liquidity Program and Future of TrueX
Alongside the launch, TrueX introduced a liquidity program designed to incentivize market participants. The program is open to all institutional clients, who can benefit from taker fee discounts and maker fee priority. Additionally, to celebrate the launch, participants can join a company equity contest with prizes up to $1 million for the top trading volumes. TrueX's non-custodial model and high-speed matching mechanism position it to become a vital part of the future crypto market, offering secure, transparent, and innovative solutions for institutional participants.
TrueX, created by industry veterans, has all the makings to become a key player in the market, providing a transparent and secure platform for institutional investors. The raised investments and support from prominent investors highlight the platform's significant potential.
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