From Investing.com

January 21, 2025 06:40:55 AM:

GRVT, a hybrid cryptocurrency exchange, secures a $5 million investment from Further Ventures, reaching a total funding of $14.3 million. Acquiring a Class M Digital Asset Business License from Bermuda Monetary Authority, GRVT becomes the first regulated decentralized exchange. Mainnet Alpha sees a 30-day trading volume of $1.3 billion and $88 million in 24-hour trading volume, showcasing platform growth and commitment to compliant DeFi solutions.

Further Ventures’ investment showcases belief in GRVT’s potential to innovate in the financial sector. The partnership aims to develop institutional-grade on-chain investment products in the Middle East. Further Ventures will provide support in product development, legal compliance, talent acquisition, and business expansion. Collaboration expected to enhance offerings to retail and institutional traders in the region.

GRVT’s Co-Founder and CEO, Hong Yea, expresses excitement for partnership with Further Ventures, anticipating growth in Abu Dhabi’s crypto ecosystem. Further Ventures’ Managing Partner, Mohamed Hamdy, praises GRVT for merging DeFi with TradFi principles, focusing on compliance and self-custody. The collaboration aims to strengthen GRVT’s position in the market and obtain an Abu Dhabi Global Market capital markets license.

Read more at Investing.com: Abu Dhabi firm invests $5 million in crypto exchange GRVT By Investing.com