DATE: 19 July, 2024
SINGAPORE – ZKEX.com, the industry’s first multi-chain Super DEX, has raised $2.5 million in its latest funding round. This seed round features investors such as Fenbushi Capital, KXVC, and RockTree Capital. The funds will support ZKEX.com’s roadmap to launch its fiat on-ramp service, mobile app, and Telegram bot in the upcoming quarter.
ZKEX.com offers crypto traders the functionality of a centralized exchange (CEX), including multi-chain Convert, Spot, Derivatives, and cross-chain Bridging. Unlike traditional CEXs, ZKEX.com allows users to trade native assets on any blockchain directly from their self-custodial wallets, eliminating the need to hand over token custody to the exchange.
The protocol is the first decentralized exchange (DEX) in industry to address the problem of liquidity fragmentation across different blockchains by using zero-knowledge technology to create a secure, unified trading layer.
The round saw participation from Fenbushi Capital, KXVC, RockTree Capital, NGC Ventures, L2 Iterative Ventures, Crypto.com Capital, IDG Blockchain, Whale Ground, Moonhill Capital, Blocklabs Capital, Optic Capital, Hyperithm Group, and G20 Group.
Over the past 12 months, decentralized crypto exchanges have experienced significant growth, with monthly trading volumes rising from approximately $100 billion to over $250 billion by early 2024. This growth aligns with an increase in active user wallets from 3 million to over 4 million and zero-knowledge projects securing over $400 million in funding.
“We’re obsessed with making multi-chain trading simple, fast, and cheap, offering a similar experience to a CEX without compromising the principles of self-custody and decentralization,” said Balal Khan, co-founder. “Users can onboard from any network and start trading with native assets in under a minute. In a few clicks, you could use your USDT on zkSync to spot buy ETH, short sell it with a perpetual contract, close both positions as limit orders, and withdraw profits as USDC on Base.”
Security remains a critical concern in the blockchain industry, with over 150 major hacks involving cross-chain bridges and exchanges in the past two years, leading to billions in lost or stolen crypto assets.
“ZKEX.com has addressed one of crypto’s biggest security challenges – the ability to safely use any supported stablecoin to directly trade tokens on any connected chain, without intermediaries,” said Omer Ozden, Chairman of RockTree Capital. “The core team brings years of experience from top-tier CEXs to decentralized on-chain trading, and we’re excited for what’s ahead,” he added.
ZKEX.com operates on an aggregated Layer 3 (L3) built on zkLink, LayerZero, and Polyhedra, guaranteeing the security of deposits, withdrawals, and transactions across chains with zero-knowledge proofs and achieving settlement speeds of up to 1000 transactions per second.
About ZKEX
ZKEX.com is the Web3 industry’s first Super DEX, an ultra-secure, multi-chain crypto exchange that offers the functionality of a centralized exchange while maintaining asset self-custody.
Users can trade tokens and move assets across 10 chains and rollups, including Ethereum, BNB Chain, Polygon, Avalanche, Arbitrum, Optimism, Base, zkSync, Linea, and opBNB. All transactions are secured with zero-knowledge proofs, ensuring the safety of users’ funds at all times.
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