OrangeX Secures $20M Funding to Boost Crypto Trading Infrastructure
OrangeX, a global cryptocurrency exchange, has successfully closed its second funding round, securing $20 million to bolster its expansion and compliance strategies. The investment, spearheaded by Kryptos and supported by SCI Ventures and other investors, signifies a strong vote of confidence in the exchange’s trajectory. This financial injection will fuel the platform’s efforts to strengthen its infrastructure, navigate global licensing processes, and ensure adherence to regulatory requirements. This news holds particular significance for the growing African tech ecosystem, highlighting the potential for innovative crypto platforms to attract substantial investment and drive financial inclusion.
Driving Growth and Compliance: A Closer Look at the Investment
This $20 million funding round represents a significant step forward for OrangeX. The company now stands among the top 35 global derivatives platforms, boasting over $200 million in liquidity. The funds will be strategically allocated to key areas. These include enhancing the exchange’s compliance protocols, upgrading its technological infrastructure, and pursuing licenses across different global jurisdictions. CEO Thomas W. expressed enthusiasm about the renewed investor backing, emphasizing the impact of the funding on OrangeX’s ability to serve its growing user base. This funding follows a previous $10 million Series A round in September 2023, bringing the total raised by OrangeX to $30 million in less than two years.
The investment underscores the evolving landscape of the global cryptocurrency market, with a focus on regulated and compliant platforms. OrangeX’s commitment to these values positions it favorably for continued expansion and sustained growth, especially in emerging markets like those within Africa where crypto adoption is rapidly increasing.
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