CVEX Secures $7 Million In Funding For Mainnet Launch, Paving The Way For Decentralized Exchange Revolution

• In two funding rounds, CVEX has secured $7 million.
• These funds will aid in launching the decentralized protocol’s mainnet in the upcoming summer.

Crypto Valley Exchange (CVEX) has secured $7 million in funding as it prepares to launch its main network later this year.

The funding, gathered through pre-seed and seed rounds, was co-led by Fabric Ventures and Kyber Capital Crypto Fund. Additional contributions came from AMDAX, Wave Digital, Funfair Ventures, Seier Capital Family Office, Five T Group, and Saxon. These funds will support the launch of the decentralized exchange’s (DEX) mainnet during the summer, according to a statement released by the company on Tuesday.

“As we put the finishing touches to CVEX, it’s clear to us that this is more than just incremental innovation, we are here to transform how derivatives are traded,” CVEX Chief Product Officer James Davies said Tuesday in a statement.

CVEX, a decentralized exchange (DEX), endeavors to provide crypto holders with transparent and cost-effective futures and options trading. Employing specialized bid-offer dynamics, the platform aims to offer competitive trading services, such as no funding fees for leveraged futures trading, as highlighted by its founders.

The DEX’s enhanced trading features will be introduced on its mainnet, which is set to launch on Arbitrum. User wallets across Ethereum, Optimism, BASE, and Solana will be supported. Additionally, collateral deposits on CVEX are denominated in Circle’s USD Coin (USDC).

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