Cryptocurrency exchange Unizen has scored a $200 million investment from non-public fairness group Global Emerging Markets (GEM) which it’ll use to increase its enterprise and its ecosystem.
Rather than receiving the $200 million in funding all of sudden, Unizen famous on June 27 that the investment will come within the type of a “capital commitment’, with part of the funding released upfront and the rest will be provided later based on achieved milestones.
Unizen did not disclose what particular criteria it had to achieve to receive the funding.
Unizen calls itself a “CeDeFi” exchange mixing options of each centralized exchanges (CEXs) and decentralized exchanges (DEXs), it runs on the BNB Chain, previously referred to as the Binance Smart Chain. It goals to draw each retail and institutional buyers by discovering and aggregating essentially the most cost-efficient trades throughout CEX’s similar to Binance and DEX’s like Uniswap.
GEM is described as a $3.4 billion various investment group that focuses on rising markets, it chosen Unizen with the goal to “have a hand in technology that will shape the future of finance.”
Unizen said that it’s going to use the investment to increase its crew, shore up its innovation and advertising pipeline, and pace up the implementation of its commerce aggregation ecosystem, additionally hinting at an upcoming investor token launch replace for early July although no additional particulars had been offered.
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Another arm of Unizen is its ZenX Labs enterprise, a CeDeFi incubator aimed toward investing in and supporting decentralized tasks by offering technical experience and helping with compliance.
ZenX Labs most just lately stated it was constructing and launching a small satellite tv for pc into orbit aboard a SpaceX rocket with the mission funded by solely by Dogecoin (DOGE), it’s anticipated to launch someday this 12 months.
For GEM, it’s one other investment right into a blockchain-related enterprise. In May by means of its digital asset investment agency GEM Digital Limited, it offered $400 million in funding to KaJ Labs to develop ‘Lithosphere’, a platform for cross-chain decentralized functions powered by synthetic intelligence.