According to Foresight News , Fortune magazine reported that TrueX, a new stablecoin-based crypto exchage founded by former Coinbase executives, has completed a $9 million seed round of financing, with participation from crypto investors such as RRE Ventures and Hack VC, as well as crypto companies such as Paxos, Solana Foundation and Aptos. When TrueX is launched, it will incentivize market makers and takers to participate through a liquidity plan. TrueX uses PayPal's PYUSD as the default settlement currency and will launch trading functions in the next two to four weeks. In the initial stage, spot trading of top assets will only be open to institutional traders.
TrueX’s parent company is True Markets, which was co-founded by Vishal Gupta, formerly head of Coinbase exchange and head of USDC at Circle, and Patrick McCreary, a former Coinbase engineer.
