Y Combinator Backs Crypto Derivatives Exchange GlobeDX
GlobalDX is building crypto derivatives platform that lets traders enjoy 100x leverage on leading cryptocurrencies.
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Cryptocurrency derivatives exchange GlobeDX announced raising $18 million in new funding round.
Leading VCs Plow Into GlobeDX
The funding round saw participation from some of the most prominent venture capital funds globally, including Y Combinator, Pantera Capital, and Draper Dragon. Other investors included Republic Crypto, OKEx, CMT Digital, and Wave Financial.
For liquidity, the platform leverages its many partner exchanges, including MXC and Hotbit.
“We’re working closely with our investors and strategic partners to bring innovative products for our traders on Globe. Trading DeFi Perpetuals on an exchange built by trad-fi veterans will be a whole new experience for crypto traders,” said GlobeDX CEO James West.
The exchange has planned a public sale of its native asset, the Globe Token (GDT), on Apr. 30. With a total supply of 400 million, the token would be used in receiving trading fee discounts and collateral for margin trading.