LeapRate Exclusive… LeapRate has learned that regulated cryptocurrency exchange DX.Exchange has raised a significant amount of venture capital from Silicon Valley-Israeli VC firm NFX.
DX.Exchange was launched earlier this year by former Oanda UK and Alpari UK CEO Daniel Skowronski, as was exclusively reported by LeapRate back in May, and is being being built on Nasdaq’s market leading matching technology.
Amedeo Moscato, DX.Exchange
The company has also hired former LCG Chief Marketing Officer Amedeo Moscato as the Head of DX.Exchange’s Retail Division.
The investment from NFX is meant to help DX.Exchange build the world’s leading regulated crypto exchange. DX.Exchange apparently attracted NFX’s attention due to its free trading business model and ultra-modern trading platform.
Other NFX investments include ride sharing company Lyft, web intelligence company SimilarWeb, and casual games company Playtika, which was acquired for $4.4 billion.
DX.Exchange has already registered over 500,000 users and has started opening accounts with full KYC as of July 2. DX.Exchange allows institutions and individuals to purchase Cryptocurrencies with Fiat, trade Cryptocurrencies, and convert Crypto back to Fiat. All this can be done with no trading fees and a 10 Euro monthly membership for the Lite account.
Gigi Levy-Weiss (pictured above), Managing Partner at NFX said of the investment in DX.Exchange:
NFX has always found great promise in the blockchain movement. We believe DX.Exchange is in-line with blockchain values in terms of innovation, transparency and shifting power to the community. Furthermore, they are dedicated to the trader experience, regulation and strong partnership with leading industry players. We are very pleased to have them as new members of NFX.
Daniel Skowronski
DX.Exchange CEO Daniel Skowronski added:
Finding a VC with both traditional expertise yet innovative thinking was our priority, and we looked for a strategic partner that was just as committed as we were to our cause and vision. As Founders who themselves started 10 companies that created over $10 billion in value, NFX has one of the strongest teams that understands and supports crypto and blockchain technology. Their experience and influence will be instrumental as DX.Exchange continues to grow.
DX.Exchange, which is licensed in Estonia with MiFID passport across the EU, is the first complete crypto community that allows institutions and individuals to purchase cryptocurrencies with Fiat, trade cryptocurrencies, and convert crypto back to Fiat. The company said that DX.Exchange’s platform can be easily integrated with Market Makers, Liquidity Providers, Hedgefunds, and Banks. With API, the DX.Exchange platform is completely secure, professional and suitable for institutional purposes.