18 hours ago
True Markets, a caller decentralized concern (DeFi) trading level focused connected stablecoin-native execution, has launched its mobile app connected Solana and closed an $11 cardinal Series A, bringing full backing to $20 million, the institution said successful a property merchandise Tuesday.
The backing circular was co-led by Accomplice and RRE Ventures, with information from Reciprocal Ventures, Variant Fund, and PayPal Ventures.
Seed investors Paxos Ventures and the Solana Foundation, proceed to enactment the firm, True Markets said.
Founded by Coinbase (COIN) and Circle veterans Vishal Gupta and Patrick McCreary, New York-based True Markets aims to present a non-custodial, mobile-first DeFi trading acquisition for retail users, prioritizing speed, simplicity, and transparency.
The app enables stablecoin-powered token trading connected Solana, with gasless execution, astute bid routing, and embedded cardinal absorption via Turnkey, each without users surrendering custody of funds, True Markets said.
“Retail traders person been stuck with clunky workflows, unclear pricing, and fragmented liquidity," said Vishal Gupta, CEO of True Markets, successful the release.
"Our extremity is to present a fairer and much transparent acquisition that makes plus find simple, shows real-time marketplace momentum, and feels arsenic intuitive arsenic the champion apps connected your phone," Gupta added.
Backed by infrastructure partners Turnkey and Definitive, the app features real-time marketplace sparklines, automated execution crossed decentralized venues, and hosted wallets that enactment contiguous backing and trading wrong a non-custodial framework.
True Markets said it plans to grow into some CeFi and DeFi markets, with aboriginal integrations including TrueX, a centralized speech designed for organization liquidity and qualified custody.
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