True Markets Raises $11M Collection A, Launches Cell-First DeFi Buying and selling App on Solana
True Markets, a brand new decentralized finance (DeFi) buying and selling platform targeted on stablecoin-native execution, has launched its cell app on Solana and closed an $11 million Collection A, bringing whole funding to $20 million, the corporate stated in a press launch Tuesday.
The funding spherical was co-led by Confederate and RRE Ventures, with participation from Reciprocal Ventures, Variant Fund, and PayPal Ventures.
Seed buyers Paxos Ventures and the Solana Basis, proceed to assist the agency, True Markets stated.
Based by Coinbase (COIN) and Circle veterans Vishal Gupta and Patrick McCreary, New York-based True Markets goals to ship a non-custodial, mobile-first DeFi buying and selling expertise for retail customers, prioritizing velocity, simplicity, and transparency.
The app allows stablecoin-powered token buying and selling on Solana, with gasless execution, good order routing, and embedded key administration through Turnkey, all with out customers surrendering custody of funds, True Markets stated.
“Retail merchants have been caught with clunky workflows, unclear pricing, and fragmented liquidity,” stated Vishal Gupta, CEO of True Markets, within the launch.
“Our aim is to ship a fairer and extra clear expertise that makes asset discovery easy, reveals real-time market momentum, and feels as intuitive as the most effective apps in your telephone,” Gupta added.
Backed by infrastructure companions Turnkey and Definitive, the app options real-time market sparklines, automated execution throughout decentralized venues, and hosted wallets that assist instant funding and buying and selling inside a non-custodial framework.
True Markets stated it plans to increase into each CeFi and DeFi markets, with future integrations together with TrueX, a centralized alternate designed for institutional liquidity and certified custody.
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