Derivatives Exchange GlobeDX Raises $18M in Seed Round Led by Blockchain VCs
April 28, 2021
GlobeDX (Globe Derivative Exchange) has completed an $18 million funding round led by major blockchain investors. Y Combinator, Pantera Capital, Draper Dragon, Republic Crypto, OKEx, CMT Digital and Wave Financial all participated in the round to support the development of a best-in-class derivatives trading platform.
As a next-generation cryptocurrency exchange, GlobeDX prides itself on excellent market depth, high leverage and access to the crypto volatility index perpetual. Its team’s goal is to make the cryptocurrency industry more accessible to mainstream users and to drive down the barriers to entering the cryptoconomy.
As institutional demand for Bitcoin and other crypto assets increases, VCs are paying close attention to enterprising crypto projects that are seeking to capture a slice of the lucrative exchange market.
GlobeDX CEO James West said,
“Built by trade-fi veterans, Globe has built the infrastructure to support cutting-edge financial products, such as the VIX perpetual. This opens up new trading strategies much needed in the industry, and we look forward to continuing this trend to build a world-class trading community on our exchange.”
GlobeDX has forged key partnerships with the likes of MXC and Hotbit to tap into liquidity from multiple sources and support global access to perpetual futures with Bitcoin collateral.
Users of GlobeDX will be able to trade Bitcoin, Ethereum and various DeFi tokens at up to 100x leverage. Careful consideration has been applied to making the exchange appealing to advanced cryptocurrency users while also providing a solid foundation for novice traders.
Franklin Bi of Pantera Capital said,
“The GlobeDX team has been building quietly and we think now’s the perfect time for them to shine, with incumbents like BitMEX facing new challenges and DeFi catching the attention of sophisticated market players.”
GlobeDX’s native DGT token will serve a pivotal role in the platform’s development, providing discounted trading fees. Users can also earn globe rewards boosts by staking GDT. These take the form of raffle tickets through which users can win BTC. Finally, GDT can be utilized as margin for trading pairs to amplify users’ trading results.
About GlobeDX
GlobeDX is a crypto derivatives exchange pioneering an array of new products while delivering performance beyond any existing crypto or traditional financial exchange. Globe is backed by Y Combinator, Tim Draper and Pantera Capital, and recently ran a larger presale than Binance that attracted over 200 strategic partners to support its goal of building the future of digital asset markets.
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Author: ChainWire
