Centralized-decentralized (CeDeFi) exchange Unizen has received $200 million from alternative investment group Global Emerging Markets (GEM) to accelerate development of its trade aggregation system.
Not a straight funding round, GEM's $200 million is described as a "capital commitment," which is milestone-based and performance-related as a means of ensuring the funding is optimized fully, Unizen announced on Monday.
The funds will be used to improve Unizen's systems, grow its team, market its products and accelerate its in-house aggregation system, which is designed to find the most efficient trade routes across different centralized and decentralized crypto exchanges, such as Binance, Uniswap and PancakeSwap.
The exchange is built on BNB Chain, the blockchain network of crypto exchange Binance. CEO of Binance, Changpeng "CZ" Zhao, is thought to have coined the term CeDeFi to describe a system where users can gain the benefits of decentralized finance (DeFi) without having to...
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