NFX, a seed and series A venture firm, has partnered with the Estonian-based crypto exchange, DX.Exchange. Through the partnership, DX.Exchange will be able to grow its new exchange, and as a result, expand its services.
Through its platform, DX.Exchange allows both retail and professional investors to purchase crypto with fiat money, to trade on a token-to-token basis, as well as to convert the coins back to fiat and to withdraw it. The exchange has more than 500,000 registered users, and it began opening KYC accounts as of July 2, 2018. The full launch of the exchange is set to happen in the near future.
NFX is based in San Francisco. It was founded by individuals who have built 10 companies worth more than $10 billion in exits across multiple industries. Commenting on the partnership, Gigi Levy-Weiss, Managing Partner at NFX said: “NFX has always found great promise in the blockchain movement. We believe DX.Exchange is in-line with blockchain values in terms of innovation, transparency and shifting power to the community.
“Furthermore, they are dedicated to the trader experience, regulation and strong partnership with leading industry players. We are very pleased to have them as new members of NFX.”
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The CEO of DX.Exchange, Daniel Skowronski, also added: “Finding a VC with both traditional expertise yet innovative thinking was our priority, and we looked for a strategic partner that was just as committed as we were to our cause and vision.”
“As Founders who themselves started 10 companies that created over $10 billion in value, NFX has one of the strongest teams that understands and supports crypto and blockchain technology. Their experience and influence will be instrumental as DX.Exchange continues to grow.”
NFX attracted to DX.Exchange’s modern trading platform
NFX was attracted to DX.Exchange because it has generated a lot of attention in the crypto industry. This is because of its free trading business model and “ultra-modern” trading platform.
DX.Exchange’s announcement of the partnership with NFX follows on the heels of the appointment of Amedeo Moscato as Chief Operating Officer, which Finance Magnates reported today. Moscato joins the company from blockchain-based recruiting platform OUNA, where he was Chief Marketing Officer.
Moscato’s appointment is part of a wider hiring spree for the exchange. Over the past couple of months, it has hired multiple new employees over a range of departments.