Singapore-based decentralized trading platform UXUY announced Wednesday that it has successfully raised $3.2 million in seed round funding from investors.
UXUY said in a statement that the investors including Bixin Ventures, WaterDrip Capital, KuCoin Ventures, Pionex, LK Ventures, Arcane Group, Daoverse Capital, Lapin Digital, etc.
“We are excited to form strategic partnership with all our investors! Our mission, ultimately, is to build a decentralized Binance, and our vision is to build the entry portal for Web3 to welcome the mass adoption of 1 billion users,” said Jordan, Co-founder of UXUY.
UXUY is a Singapore-based startup founded by serial entrepreneurs and backed by industry leading venture capitals.
The firm is building the next-gen MPC-based decentralised trading platform and aims to provide the centralized exchange (CEX)-like user experience for global users.
Through the mnemonic-free and gas-free solutions, the firm makes it easier for users to get started and conduct cross-chain transactions with a single click.
The company plans to create a comprehensive stablecoin liquidity pool to provide users with a “stablecoin-centric” trading environment and a CEX-like user experience.
UXUY supports mainstream public chains, fully leverages the “wallet + transaction” and proactively participates in the building of the “Unclaimed” ecosystem.
“UXUY’s funding team are serial entrepreneurs who have experienced a complete bull-bear market cycle, and have extraordinary knowledge and technical expertise for multi-chain ecology and cross-chain transactions,
“Bixin Venture looks forward to working with the team to accelerate the next disruptive Web 3.0 innovation,” said Wang Xi, Partner of Bixin Ventures.
Founded in 2017, Bixin Ventures is a Singapore’s leading crypto fund backed by blockchain industry experts.
The firm has invested in renowned projects including Aptos, LayerZero, Gnosis Safe, arweave, Scroll and more.
Waterdrip Capital was founded in 2017 by Chinese blockchain pioneers. The firm is an international investment institution focusing on blockchain industry.
KuCoin Ventures is an investment arm of KuCoin Exchange. The fund aims to invest in the most disruptive projects of the Web 3.0 era.
As a community-friendly and research-driven investor, KuCoin Ventures works closely with portfolio projects throughout the entire life cycle, with a focus on DeFi, GameFi, and other Web3.0 infrastructures.
Founded in 2019, Pionex is world’s leading cloud-based crypto trading bot that offers 24/7 automatic trading.
Founded in 2023 in Hong Kong and backed by blockchain industry experts, LK Venture focuses on the blockchain network layer (Layer0, Layer1, Layer2, etc.), infrastructure service layer and application layer and other Web3 frontier fields.
The firm invests in and support Web3 technology innovation projects around the world.
Arcane Group is a global multi-stage venture capital firm backing next-generation entrepreneurs in Web3.
Based in Singapore, it is a community of analysts, engineers, and collaborators across various blockchain verticals.
Daoverse Capital focuses on providing marketing and financial support to innovative technology projects that provide fundamental support to the web3 ecosystem.
It also works on sponsoring blockchain events globally for increased awareness by also acting as a bridge between Web 3 and the traditional industry with the help of highly experienced team members from space.
Lapin Digital is a venture capital firm that focuses on investing in the web3 sector.
Singapore’s SDAX launches integrated digital investment and trading platform