28 Jun Crypto Platform Unizen to Expand its Operations After Raising $200 Million
The Liechtenstein-based cryptocurrency exchange – Unizen – secured a $200 million funding to accelerate its development in numerous fields. The fundraiser was led by the investment management giant Global Emerging Markets (GEM).
Unizen is Looking Towards a Rapid Expansion
In a recent announcement, the trading venue vowed to employ the multi-million financing to expand the size of its organization, improve its trade aggregation ecosystem, and bolster the Innovation and Marketing pipeline.
The upcoming development will turn Unizen into the first centralized, decentralized finance (CeDeFi) exchange for merging the use-cases of first-party and third-party CEXs and DEXs. Thus, it is expected that it will satisfy the needs of both institutional and retail traders.
Unizen runs on the BNB Chain (previously known as Binance Smart Chain) and aims to find the most cost-efficient trades and best offerings across multiple popular cryptocurrency platforms, including Binance.
The Liechtenstein-based exchange also touched upon 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 was Sean Noga – CEO of the platform:
“We are proud to welcome GEM to the Unizen Ecosystem as a potent and strategically aligned growth 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.
The native token of Unizen is called ZCX, which currently trades at around $0.50. The coin is available on leading exchanges, including BitMart, Uniswap, and KuCoin.
Some of the Latest Fundraisers
Earlier this month, the US-based cryptocurrency platform – FalconX – secured a $150 million investment, boosting the company’s valuation to $8 billion. The funding round was led by prominent investors, such as GIC, B Capital, Thoma Bravo, Tiger Global Management, and Wellington Management.
FalconX said it will use the funds to hire 55 additional employees and thus, increase its total workforce by 30%. This could be considered a surprising move since multiple exchanges like Coinbase, Bybit, and CryptoCom disclosed they will lay off some of their staff due to the macroeconomic conditions and the ongoing “crypto winter.”
Prior to that, the Australian NFT scaling platform – Immutable – raised $500 million, which will be distributed to firms developing the Web3 ecosystem and non-fungible token (NFT) projects.
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