True Markets, a NYC-based provider of a cryptocurrency platform, raised $9M in Seed funding.
Backers included RRE Ventures, Reciprocal Ventures, Paxos, Accomplice Blockchain, Hack VC, Solana Foundation, and Aptos.
The company intends to use the funds to expand operations and its development efforts.
Founded by Vishal Gupta and Patrick McCreary, True Markets is a cryptocurrency platform dedicated to offering markets and liquidity as a service globally through trading technology. Its flagship product, TrueX, is a non-custodial, stablecoin-native crypto exchange that features a proprietary matching engine, the security of segregated execution and custody, and stablecoin settlement. The exchange is working with Paxos, which provides leading blockchain infrastructure and regulated custodial services, to utilize PayPal USD as the default settlement currency. This will facilitate seamless stablecoin settlement with the security and efficiency that customers expect.
Coinciding with the launch, TrueX is also pioneering its Liquidity Program, which aims to reward and incentivize market participants. The program is open to all institutional clients who will be able to gain discounted taker fees and preferred maker fees.
