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Cube.Exchange announces $12 million Series A fundraise

Cube.Exchange is the first trading venue built to protect traders from founder risk, and this fundraise is proof that the industry is behind that mission.

MELBOURNE, AUSTRALIA, February 1, 2024 /EINPresswire.com/ -- Cube.Exchange, a soon-to-launch digital asset trading platform, announced today it has raised $12 million dollars as part of a Series A fundraise.

Investors in the fundraising round, led by 6th Man Ventures, include Asymmetric, ParaFi Digital, Foundation Capital, Susquehanna Private Equity Investments, LLLP, GSR Markets, Everstake Capital, Big Brain Holdings, Third Kind Venture Capital, Arche Fund, WW Ventures, and prominent angels.

“This fundraise came entirely as a result of considerable inbound interest,” said Cube.Exchange CEO Bartosz Lipinski, adding “we were not actively seeking to raise funds but were presented with an opportunity that was nearly impossible to pass up, given the investors with whom we are now partnered.”

Cube.Exchange is the first trading venue built to protect traders from founder risk, and this fundraise is proof that the industry is behind that mission. The funds will be used to grow the team across engineering, customer service, operations, legal and compliance, business development, and marketing; and also to help the platform obtain additional regulatory licenses around the globe while also growing partnerships.

“Cube.Exchange is an innovative trading platform built by an industry leading team that’s among the best we’ve ever seen,” said Mike Dudas, founder and general partner at 6th Man Ventures. “We believe in their vision and are excited to be part of the next chapter of their growth story.”

The past year has been a story of growth and resiliency for an industry many counted as down and out in late 2022. Overall market capitalization in digital assets grew more than 70 percent, and that momentum has yet to slow down in the new year, with spot Bitcoin ETFs finally coming to market in the U.S. Adoption continues to grow across the board for all manner of use cases including NFTs, DEXs, DAOs, and more; and the rebound is a clear indication of investor confidence and trust in digital assets, and the improvements in the underlying networks and infrastructure.

Cube.Exchange is engineered for transparency, resiliency and efficiency and launched early access late last year and will soon launch to the general public. The global venue has already listed 20 digital assets, with additional listings set to be announced over the coming weeks, with a goal to support as many tokens as possible, across as many protocols as possible.

“Cube’s technology presents a new frontier for exchanges, bringing together the best of both CEXs and DEXs, and powered by an extraordinary team,” said Rodolfo Gonzalez, general partner at Foundation Capital.

Cube.Exchange was built for users, by users, and will never take custody of coins or tokens. This enables users to always be able to verify their holdings, obviates proof-of-reserves audits, and enables protocols to better be able to directly interact with token holders because assets are always held on-chain, rather than in an opaque black box.

“We believe Cube’s hybrid architecture with off-chain matching and on-chain settlement is quite compelling for users,” said Ben Forman, founder and managing partner at ParaFi Capital, adding “We couldn’t be more excited to support the Cube team in growing on-chain trading volumes in 2024 and beyond.”

This fundraise comes only months after Cube.Exchange announced a $9 million seed round; and builds upon a series of strategic partnerships that will only further bolster the platform’s growth ambitions and ability to scale throughout 2024 and beyond.

About Cube.Exchange

Cube.Exchange is a hybrid trading platform fusing TradFi with blockchain technology. The founding team includes traditional and digital asset finance professionals with a vision to create a regulatory-compliant venue for traders of all types and sizes. Cube.Exchange is powered by best-in-class technology that aims to protect users from founder risk while also changing how they interact with their assets and providing an institutional quality trading experience for traders of all types.

To learn more about Cube.Exchange please visit:

Website: https://www.cube.exchange/
X (formerly Twitter): https://twitter.com/cubexch

Disclaimer

Nothing in this press release should be considered investment, tax or legal advice or the recommendation to sell, or the offer of a solicitation to buy or invest in any investment product, vehicle, service or instrument. Cryptocurrency trading markets are volatile and can change quickly. Please refer to Cube.Exchange's Risk Disclosure Statement and its Terms of Service for a discussion of certain of these risks Cube.Exchange is not available in all markets - please refer to its Terms of Service for more information.

Ryan Gorman
Cube.Exchange
rgorman@cube.xyz
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