True Markets, a brand new decentralized finance (DeFi) buying and selling platform targeted on stablecoin-native execution, has launched its cellular app on Solana and closed an $11 million Series 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, True Markets goals to ship a non-custodial, mobile-first DeFi buying and selling expertise for retail customers, prioritizing pace, simplicity, and transparency.
The app allows stablecoin-powered token buying and selling on Solana, with gasless execution, good order routing, and embedded key administration by way of 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,” said Vishal Gupta, CEO of True Markets, in the release.
“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 one of the best apps in your cellphone,” 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 fast 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 trade designed for institutional liquidity and certified custody.
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