Digital asset trading is evolving at an unprecedented pace, and Melbourne-based Cube.Exchange is positioning itself at the forefront of this transition. The platform, which is poised to launch soon, has successfully raised a substantial $9 million in seed funding. With the who’s who of global firms in the Web3 sector backing it, the company has ambitious plans to reshape how we approach digital asset trading.
A broad spectrum of support from global Web3 firms
Cube.Exchange’s fundraising campaign attracted attention and investment from a diverse range of firms involved in the Web3 space. Among the notable investors are Asymmetric Technologies, Susquehanna Private Equity Investments, LLLP, Everstake, Foundation Capital, and Big Brain Holdings, to name a few. With these heavyweights backing them, Cube.Exchange is not just raising capital but forging strategic partnerships that will be instrumental for their launch and growth.
Bartosz Lipiński, CEO of Cube.Exchange, expressed his enthusiasm, “This fundraise shows that there is broad support in the industry for what we are building here at Cube. The partners we have lined up speak to the strength of our team and our vision, and we can’t wait to bring it to market later this year.”
These funds are earmarked for several strategic avenues, including expanding the workforce across various domains like development, marketing, compliance, and administration. Additionally, Cube.Exchange has plans to spread its wings across the globe by obtaining necessary licenses and inaugurating new offices in relevant locations.
A revolutionary approach to digital asset trading
What makes Cube.Exchange stands out in its pioneering approach to address the issue of founder risk that plagues the digital trading sphere. They aim to provide a platform that combines the reliability of traditional exchanges with the modern efficiencies of Web3 technology. This hybrid market structure promises to keep assets under the ownership of users, ensuring there is no risk of misappropriation, co-mingling, re-hypothecation, or any illicit activities by founders or team members.
A testament to their innovation is their pairing of an off-chain sequencer with a cutting-edge, lightning-fast matching engine, ensuring swift on-chain settlements. Moreover, their unique multi-party computation (MPC) wallet is designed to give access to funds only to those authorized by a user, reinforcing the security and trust of the platform. The company’s tagline captures their ethos aptly – “Your keys, your trades, your assets” – offering unparalleled security, even in case of insolvency or bankruptcy.
Lauding Cube.Exchange’s vision and highlighting the platform’s significance, Joe McCann, CEO at Asymmetric Technologies, said, “Bartosz and his team are building an exchange that we believe solves for many of the problems currently plaguing the digital asset industry. The days of assets disappearing overnight for many as a result of the actions of a few will soon be over, and we couldn’t be more excited to be part of the solution.”
Cube.Exchange’s roadmap: present and future
While Cube.Exchange is currently undergoing rigorous beta testing, gauging its performance with market makers, professional traders, and other stakeholders, the excitement surrounding its launch is palpable. The burgeoning waitlist stands as testimony to the industry’s anticipation.
The platform’s immediate plan is to launch as a spot exchange, but Cube.Exchange isn’t stopping there. They are gearing up to diversify and expand their offerings in the coming year, and stakeholders are eagerly awaiting more details, which will be unveiled soon.
