X10, a hybrid crypto exchange founded by former Revolut crypto executive, completes $6.5 million in financing, with Tioga Capital and others participating

2024-04-30 22:53:39BlockBeatsShare to:

DEFI-5.96% ($0.1041)

BlockBeats news, on April 30, the UK-based mixed cryptocurrency exchange X10 announced the completion of $6.5 million in financing. Investors include Tioga Capital, Semantic Ventures, Cherry Ventures, Starkware and Cyber Fund, as well as executives from Revolut and Lido Founder Konstantin Lomashuk and other well-known angel investors. X10 was founded by Ruslan Fakhrutdinov, the former head of Revolut’s crypto business, and aims to combine the advantages of centralized exchanges (CeFi) and decentralized finance (DeFi) to provide users with a Revolut-like experience and fund self-custody capabilities. The new financing will be used to build a new crypto exchange that provides a high-quality user experience while enabling self-custody of funds. X10 operates on a hybrid centralized limit order book (CLOB) model. Order processing, matching, position risk assessment and trade sequencing are completed off-chain to ensure high performance. Extremely low latency and high throughput help market makers update order books faster, thereby providing updated prices, tighter spreads, deeper liquidity, and significantly improving the user experience. In addition to security and excellent performance, X10 is also committed to providing a user experience comparable to CeFi exchanges and traditional web platforms in the DeFi field, bringing enhanced trading experience, first-class user experience and seamless onboarding process to retail users. Ruslan Fakhrutdinov, founder and CEO of X10, said: “With X10, we want to provide users and traders with the best of both worlds – imagine the functionality and speed of Coinbase or Binance, but with complete self-custody of funds. The FTX incident is a wake-up call to the industry that we must rebuild trust and efficiency in crypto transactions through on-chain transaction settlement, verification, and self-custody.”

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Price	$0.1041 USD	Price Change (24h)	-5.96%	Trading Volume (24h)	$360,494.67 USD
Market Cap	$1,747,973.65 USD	Circulating Supply	30,059,736.11	Max Supply:	1,000,000,000

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