- GlobeDX raises $18M in a funding round.
- The move comes as an aim to bring innovative products for traders on Globe.
Excitement and celebrations are in the midst of the GlobeDX (Globe Derivative Exchange) team. In a state-of-art seed round led by major blockchain CVs, the cryptocurrency exchange efficiently raised $18 million. Thus, achieving its goal of making the cryptocurrency industry more accessible to the mainstream.
In detail, the news is a result of the increasing institutional demand for Bitcoin (BTC) and other crypto assets. Therefore, VCs are paving the way towards shaping the future of enterprising crypto projects.
As such, GlobeDX CEO James West expressed that:
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.
In conjunction with the above, companies such as Y Combinator, Pantera Capital, Draper Dragon, Republic Crypto, and OKEx. Also, CMT Digital and Wave Financial all participated in the round to support the development of a best-in-class derivatives trading platform.
Enhanced Benefits Offered by GlobeDX
Firstly, users of GlobeDX will be able to trade Bitcoin, Ethereum, and various defi tokens at up to 100x leverage. Secondly, GlobeDX’s native DGT token will serve a pivotal role in the platform’s development, providing discounted trading fees.
Furthermore, users can also earn Globe Rewards boosts by staking GDT. More so, GDT can be utilized as margin for trading pairs to amplify users’ trading results. Alongside the victory, Franklin Bi of Pantera Capital said:
“The GlobeDEX 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,”
On the other hand, GlobeDX has forged key partnerships with the likes of MXC and Hotbit. This is in a bid to tap into liquidity from multiple sources and support global access to perpetual futures with Bitcoin collateral.