Former Coinbase Execs Launch TrueX, a Stablecoin-Focused Crypto Exchange

TrueX, featuring PayPal's PYUSD for settlements, has secured $9 million in seed funding and aims to redefine crypto trading with non-custodial solutions.

• TrueX is a non-custodial, stablecoin-native crypto exchange founded by former Coinbase executives Vishal Gupta and Patrick McCreary.
• The platform uses PayPal's PYUSD as the default settlement currency and segregates order execution from asset custody for enhanced security.
• TrueX has raised $9 million in seed funding from prominent investors including Solana Foundation, Aptos, Paxos, and several venture capital firms.
• The exchange aims to offer innovative liquidity solutions and will soon support multiple stablecoins for trading and settlement.
• Initially targeting institutional clients, TrueX will feature a liquidity program with discounted fees and incentives, and plans to expand its asset offerings and functionalities.

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