Major Blockchain Investors Arrington XRP, NEO Global Back DEX-Focused Startup


0

Decentralized exchange (DEX) aggregator Totle has closed a fresh funding round led by major blockchain investors, according to a blog post from the firm Jan. 14.

Arrington XRP, a crypto-focused hedge fund created by TechCrunch founder Michael Arrington, alongside top blockchain investment funds NEO Global Capital (NGC) and Goren Holm Ventures, have reportedly jointly led the $1 million round.

Headquartered in Detroit, Michigan, Totle focuses on building infrastructure to support the decentralized application (DApp) and DEX ecosystem — notably through the recent launch of its API. As the post outlines:

“[The API aims to] relieve the need to integrate with and understand the protocols of multiple decentralized exchanges. Totle supports many use cases including in-app exchange in wallets; payments and transactions for business; arbitrage exploitation by hedge funds and trading platforms; and rebalancing for portfolio managers.”

According to the startup, the fresh capital injection will be used accelerate the growth of its B2B operations and expand components of its offering — including native wallet integrations and swap widgets.

In a statement in the post, Arrington has said that the DEX-focused platform “is an important part of the future of the blockchain economy [that] enables users and organizations to initiate reliable, non-custodial transactions.”

NCG’s Tony Gu has meanwhile underscored the investment comes in recognition of the need to provide “a legitimate alternative to centralized exchanges.”

As reported, 2018 saw several leading crypto exchanges announce the launch of their DEX offshoots — including current industry leader Binance and South Korean trading platform Bithumb.

DEX platforms differ from their centralized counterparts exchanges in foregoing centralized databases and custody, with users instead controlling their private keys themselves — many thus claim them to be less vulnerable to thefts that target a centralized point of attack.


Like it? Share with your friends!

0

What's Your Reaction?

hate hate
0
hate
confused confused
0
confused
fail fail
0
fail
fun fun
0
fun
geeky geeky
0
geeky
love love
0
love
lol lol
0
lol
omg omg
0
omg
win win
0
win
COINTELEGRAPH

Choose A Format
Story
Formatted Text with Embeds and Visuals
Video
Youtube, Vimeo or Vine Embeds
List
The Classic Internet Listicles
Open List
Submit your own item and vote up for the best submission
Countdown
The Classic Internet Countdowns
Poll
Voting to make decisions or determine opinions
Ranked List
Upvote or downvote to decide the best list item
Personality quiz
Series of questions that intends to reveal something about the personality
Trivia quiz
Series of questions with right and wrong answers that intends to check knowledge
Meme
Upload your own images to make custom memes
Audio
Soundcloud or Mixcloud Embeds
Image
Photo or GIF
Gif
GIF format