CyberX raises $15 million in Series A funding round
CyberX has secured $15 million in Series A funding from Foresight Ventures to expand its operations across Asia and North America.
CyberX is looking to expand its business infrastructure
Foresight Ventures Crypto Ventures has invested $15 million in CyberX, a Web 3 venture that claims to offer users cutting edge services across trading, finance and more, to support the company in expanding its infrastructure, liquidity network and operations across North America and Asia.
According to the reports, in addition to supporting the expansion drive of CyberX, the funding will enable the project to further integrate with centralized and decentralized exchanges and DeFi platforms.
CyberX CEO Hao Wang expressed his happiness at the success of the funding round, noting that the blockchain sector will disrupt the traditional finance sector in the near future.
“We aim to efficiently and transparently connect assets to our proprietary technology to provide liquidity across trading venues, DeFi protocols and [non-fungible token] markets. “
Hao Wang, CEO of CyberX.
CyberX team members are former Wall Street professionals with years of experience trading at financial giants such as Goldman Sachs, Morgan Stanley, UBS, BlackRock, Citadel and AQR.
Speaking about the new development, Forest Ventures CEO Forest Pay emphasized the importance of injecting more liquidity into the cryptocurrency industry which has had its fair share of liquidity crises since the start of the crypto winter.
Bai also discussed the prospects for CyberX in the blockchain sector, noting that due to its “advanced technology and experienced team,” the project will eventually become an important player in the industry.
CyberX has been building its crypto liquidity network for some time now; The platform has a daily trading volume of $400 million with over 5,000 tokens and over 1,000 trading pairs.
The funding comes as a step in the right direction for the company, given how the FTX crisis created a market-wide contagion that greatly impacted market makers and liquidity providers.