Crypto Valley Exchange (CVEX) has secured $7 million in pre-seed and seed funding to launch its decentralized exchange (DEX) mainnet this summer. Led by Fabric Ventures and Kyber Capital Crypto Fund, the funding will support CVEX's mission to provide transparent and cost-effective futures and options trading with innovative features such as no funding fees for leveraged futures trading.
Crypto Valley Exchange Powers Up with $7 Million Funding for Mainnet Launch
Zug, Switzerland - Crypto Valley Exchange (CVEX), a decentralized exchange (DEX) poised to revolutionize derivatives trading, has secured a robust $7 million in pre-seed and seed funding. The capital infusion, spearheaded by Fabric Ventures and Kyber Capital Crypto Fund, positions CVEX for a triumphant main network launch later this year.
"We are thrilled to have garnered the support of such esteemed investors who recognize our unwavering commitment to disrupting the derivatives market," asserted James Davies, Chief Product Officer of CVEX. "As we approach the culmination of our journey with the launch of CVEX, it has become increasingly evident that we are not merely incremental innovators but trailblazers in transforming the derivatives trading landscape."
CVEX stands out as a DEX dedicated to empowering crypto holders with transparent, low-cost futures and options trading. The platform's unique bid-offer mechanics grant it a distinct competitive advantage, eliminating funding fees for leveraged futures trading.
The forthcoming mainnet launch on Arbitrum, a layer-2 Ethereum solution, will introduce a suite of enhanced trading functionalities. CVEX will seamlessly integrate user wallets from Ethereum, Optimism, BASE, and Solana, ensuring maximum accessibility. Furthermore, collateral deposits on CVEX will be denominated in Circle's USD Coin (USDC), fostering greater stability and ease of use.
The pre-seed and seed funding round attracted a diverse group of renowned investors, including AMDAX, Wave Digital, Funfair Ventures, Seier Capital Family Office, Five T Group, and Saxon. These strategic partners share CVEX's vision of a more democratized and accessible derivatives trading ecosystem.
"CVEX's innovative approach, coupled with its exceptional team of experts, has convinced us of its unrivaled potential to reshape the derivatives market," stated Simon Dixon, Founder and CEO of BnkToTheFuture. "We are excited to join forces with CVEX as they embark on this transformative journey."
CVEX's upcoming mainnet launch marks a pivotal moment in the evolution of decentralized finance. As the platform goes live, it will provide traders with a groundbreaking venue for seamless, transparent, and cost-effective derivatives trading. CVEX's mission to revolutionize the industry is well underway, and the $7 million funding milestone serves as a resounding testament to its unwavering commitment.
