Venture capital (VC) investors have been busy this past week, with Centrifuge, Crypto Valley Exchange, and Nebra all confirming new funding rounds.
Crypto Valley Exchange
The $7 million funding round consisted of a pre-seed round and a seed round. Fabric Ventures and Kyber Capital Crypto Fund jointly led this effort.
Crypto Valley Exchange has also received support from renowned backers such as AMDAX, Wave Digital, Funfair Ventures, and Seier Capital Family Office.
CVEX will provide a decentralized exchange (DEX) for cryptocurrency enthusiasts with the goal of providing transparent and cost-effective futures and options trading. One of its features includes specialized bid offer dynamics that the company hopes will work better than traditional trading platforms.
In conjunction with the planned mainnet launch on Arbitrum (ARB) this summer, CVEX stated that it will include enhanced trading features compatible with user wallets across Ethereum (ETH), Optimism (OP), and Solana (SOL).
With approximately 160,000 users already registered for early access in the testnet phase, the CVEX team is hoping to shake up the derivatives market landscape.
We bring established risk approaches on-chain, enabling the application of appropriate risk management and real-world hedging strategies, opening up DeFi derivatives to everyone from degenerates to large institutions and enabling much greater volumes of trading liquidity. will promote.
James Davies, Chief Product Officer, CVEX
centrifuge
In other funding news, Centrifuge, a leading platform for on-chain finance, also announced a sizable $15 million Series A funding round.
This round, which received significant participation and support from a variety of investors, is considered a pivotal moment in Centrifuge’s journey to establish itself as a platform for real-world asset (RWA) tokenization.
Centrifuge plans to launch an institutional-grade lending marketplace for RWAs on its native layer 2 network, with plans to integrate it with Coinbase Verification.
According to the company, the plan will enable quick and secure onboarding for institutions seeking exposure to real assets, while also providing immediate liquidity and lending options for their asset holdings.
nevra
Blockchain and zero-knowledge proof (ZKP) research platform Nebra has made headlines after securing $4.5 million in investment in pre-seed and seed rounds.
Nascent and Bankless Ventures led the way.
According to Nebra, the funding round included participation from several angel investors, including Tim Beiko, Kartik Talwar, and Nick White.
The organization said it hoped the capital influx would help create a “shared payments layer” for web3. This layer can help reduce proof payment costs for major blockchains, including Ethereum.
Nascent co-founder Dan Elitzer likened Nebra’s approach to advancing blockchain ZKP payments to how major technology companies like Google and Uber are pooling their resources to change how the sector operates.
Just as Google revolutionized information access by unifying Internet data and Uber transformed urban mobility by unifying transportation resources, Nebra is pioneering a new approach that brings economies of scale in blockchain ZKP payments.
Nascent co-founder Dan Elitzer
Elitzer says Nebra is pioneering a similarly groundbreaking approach to bringing economies of scale to blockchain payments.
According to PitchBook, during the first quarter of 2024, global investors invested $2.5 billion in cryptocurrency-related startups.