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Cryptocurrencies.AI Raises $8M to Merge Decentralized and Centralized Trading
The firm is building a centralized exchange and a decentralized one on the Solana blockchain.
Cryptocurrencies.AI, a trading platform with centralized and decentralized components, has raised $8 million in a funding round including Alameda Research, Alphabit and other investors.
STORY CONTINUES BELOW
- Cryptocurrencies.AI's aim is to debunk the belief that decentralized finance is inherently complex and separate from centralized finance, according to an announcement Thursday.
- The crypto industry "all too often accepts frustratingly poor user experience and fragmentation as both crypto natives and newcomers are forced to use a variety of different tools to optimize their trading strategies," according to CEO Hisham Khan, a former project lead at Bloomberg.
- "We’re changing that by bringing everything into one place," Khan said.
- Its decentralized exchange (DEX) will be built on the Solana blockchain, while its centralized exchange (CEX) will harness a strategic partnership with Binance.
- DFG, AU21, Master Ventures, Fomocraft Ventures, Protocol Ventures, A195, GBIC and Rarestone Capital also took part in the funding round.
See also: CEXs vs. DEXs: The Future Battle Lines
Jamie Crawley
Jamie has been part of CoinDesk's news team since February 2021, focusing on breaking news, Bitcoin tech and protocols and crypto VC. He holds BTC, ETH and DOGE.
