Liechtenstein-based cryptocurrency exchange – Unizen – secured $200 million in funding to accelerate its growth in several sectors. The fundraiser was led by investment management giant Global Emerging Markets (GEM).
Unigen looking to expand rapidly
In a recent announcement, the business site vowed to employ multi-million financing to expand the size of its organization, improve its business aggregation ecosystem, and strengthen its innovation and marketing pipeline.
The upcoming development will turn Unizen into the first centralized, decentralized finance (CeDeFi) exchange to merge the use-cases of first-party and third-party CEXs and DEXs. Thus, it is expected that it will meet the needs of both institutional and retail traders.
Unizen runs on the BNB chain (formerly known as Binance Smart Chain) and aims to find the most cost-effective trading and best offerings on several popular cryptocurrency platforms, including Binance.
The Liechtenstein-based exchange also touched on GEM, arguing that the $3.4 billion alternative investment group decided to lead the financing because it believes companies like Unizen will represent the future of the financial world. Speaking on the matter, Sean Noga, CEO of the platform, was:
“We are proud to welcome GeM to the Unizen ecosystem as a powerful and strategically aligned development partner that can support the rapid expansion of the Unizen platform, brand and community.”
It is worth noting that the exchange has an incubator program called ZenX Labs. The latter supports decentralized projects by providing them with technical expertise and management solutions.
Unizen’s native token, called ZCX, is currently trading at around $0.50. The coin is available on major exchanges, including BitMart, Uniswap, and KuCoin.
some of the latest fundraisers
Earlier this month, US-based cryptocurrency platform FalconX secured a $150 million investment, raising the company’s valuation to $8 billion. The funding round was led by leading investors such as GIC, B Capital, Thoma Bravo, Tiger Global Management and Wellington Management.
FalconX said it would use the funds to hire 55 additional employees and, thus, increase its total workforce by 30%. This may come as a surprise move as several exchanges such as Coinbase, Bybit and Cryptocom have revealed that they will be laying off some of their employees due to macroeconomic conditions and the ongoing “crypto winter”.
Earlier, Australian NFT scaling platform – Irreversible – raised $500 million, which will be distributed to firms developing the Web3 ecosystem and non-fungible token (NFT) projects.
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