GRVT, a hybrid decentralized exchange based on ZKsync, secured $14.3 million in Series A funding, with $5 million from Abu Dhabiโs Further Ventures, highlighting a significant investment milestone.
The funding enhances GRVTโs expansion and compliance initiatives, aiming to merge traditional finance with decentralized solutions, potentially influencing the growth of zkSync and broader DeFi ecosystems.
GRVT, a decentralized exchange based on zkSync, successfully raised $14.3 million in Series A funding. The round included $5 million from Abu Dhabiโs Further Ventures, indicating strong institutional interest in their compliance-first approach.
Co-founders Hong Yea, Aaron Ong, and Matthew Quek lead the venture. Their collective backgrounds in finance and technology power GRVTโs mission to integrate trusted financial systems with blockchain security, appealing to retail and institutional clients.
GRVT Secures $14.3M for Compliance-Driven Growth
GRVT, a decentralized exchange based on zkSync, successfully raised $14.3 million in Series A funding. The round included $5 million from Abu Dhabiโs Further Ventures, indicating strong institutional interest in their compliance-first approach.
โWe are thrilled to welcome Further Ventures as a strategic investor and partnerโฆ this collaboration fast-tracks our mission to build a regulated, self-custody first DEX serving retail and institutions with institutional-grade products and compliance.โ โ Hong Yea, Co-Founder & CEO, GRVT
Further Ventures Applauds GRVTโs DeFi Innovations
Further Ventures believes GRVT is transforming DeFi and traditional finance, which is evident from Mohamed Hamdyโs remarks on redefining self-custody. GRVTโs ambition for a regulated, institutional-grade platform resonates with both sectors.
The funding supports GRVTโs focus on compliance, aiming for regulatory licenses like the Bermuda Class M. Their expansion might trigger similar moves from other DeFi platforms seeking institutional acceptance, affecting technological advancements industry-wide.
GRVTโs Path Mirrors DeFi Giants dYdX and Uniswap
GRVTโs funding follows the path of platforms like dYdX and Uniswap, whose investments significantly boosted the Ethereum-based L2 ecosystems. Historical trends emphasize the increased credibility these investments leverage for decentralized protocols.
Insights from Kanalcoin experts suggest GRVTโs future actions could set new standards for integrating DeFi and TradFi through compliance. This breakthrough might attract more traditional institutions while pushing forward blockchain technology adoption.
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