Cube.Exchange, a remote provider of a hybrid crypto trading platform, reportedly raised $12M in Series A funding.
The round was led by 6th Man Ventures with participation from GSR Markets, Foundation Capital, ParaFi Digital, Susquehanna Private Equity Investments, Everstake Capital and others. In conjunction with the funding, Mike Dudas, founder and managing partner of 6th Man Ventures, joined Cube’s board.
The company intends to use the funds to expand its team and to obtain licenses in more jurisdictions beyond Poland and Canada.
Led by CEO Bartosz Lipinski, Cube.Exchange is a digital asset trading platform that aims to solve the problem of founder risk by creating a hybrid market structure that takes advantage of the benefits of both traditional exchanges and the efficiencies offered by embracing certain elements of Web3 technology.
The exchange features a number of innovations, including an off-chain sequencer with a lightning-fast matching engine, on-chain settlement, and a multi-party computation (MPC) wallet.
The platform is currently being tested by market makers, professional traders, and others.
The company reportedly holds a virtual asset service provider license in Poland and a money services business license in Canada, and it meets “all requirements” for current spot trading operations in Australia.
FinSMEs
05/02/2024