True Markets, a brand new decentralized finance (DeFi) buying and selling platform targeted on stablecoin-native execution, has launched its cell app on Solana and closed an $11 million Series A, bringing complete funding to $20 million, the corporate mentioned in a press launch Tuesday.
The funding spherical was co-led by Confederate and RRE Ventures, with participation from Reciprocal Ventures, Variant Fund, and PayPal Ventures.
Seed buyers Paxos Ventures and the Solana Basis, proceed to help the agency, True Markets mentioned.
Based by Coinbase (COIN) and Circle veterans Vishal Gupta and Patrick McCreary, True Markets goals to ship a non-custodial, mobile-first DeFi buying and selling expertise for retail customers, prioritizing pace, simplicity, and transparency.
The app permits stablecoin-powered token buying and selling on Solana, with gasless execution, sensible order routing, and embedded key administration through Turnkey, all with out customers surrendering custody of funds, True Markets mentioned.
“Retail merchants have been caught with clunky workflows, unclear pricing, and fragmented liquidity,” said Vishal Gupta, CEO of True Markets, in the release.
“Our aim is to ship a fairer and extra clear expertise that makes asset discovery easy, exhibits real-time market momentum, and feels as intuitive as the very best apps in your telephone,” Gupta added.
Backed by infrastructure partners Turnkey and Definitive, the app features real-time market sparklines, automated execution across decentralized venues, and hosted wallets that support immediate funding and trading within a non-custodial framework.
True Markets said it plans to expand into both CeFi and DeFi markets, with future integrations including TrueX, a centralized exchange designed for institutional liquidity and qualified custody.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Coverage.
