Decentralized exchange startup Alex has raised $2.5 million to build out decentralized finance on Bitcoin's rails.
The strategic round was backed by Trust Machines, Gossamer Capital and other investors, the company said in a release. Alex raised a $5.8 million seed round in 2021, which was led by White Star Capital. Other backers included Cultur3 and SeaX.
“There are more eyes watching Bitcoin right now than any other blockchain because of what is happening with Bitcoin NFTs and the excitement around Bitcoin’s use case potential,” Muneeb Ali, CEO and co-founder of Trust Machines, said. “The Alex team has been leading the movement towards Bitcoin DeFi, and I believe they are best positioned to capture the recent attention and introduce new users to the Bitcoin economy.”
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