Exclusive: True Markets raises $11 million and launches new Solana-focused crypto trading app

Founders Fishal Gobta and Patrick Macriri from the veterans of Goldman Sachs and Coinbase, where they helped launch global trade products. Now, as the scene is flourishing in the exchange of encryption, Gupta said increasingly luck These real markets are preparing to capture the flood of new Blockchain users with a range of speed, costs and design.

“What we see here is that a retail vertebral user in the United States has suffered greatly,” said Gupta. “The truth is that our team builds essential things in encryption for a long time.”

Evolution of encryption

After a profession in traditional financing, Gupta served in leadership roles in pioneering encryption exchanges before being released alone with real markets, which he launched from last fall for $ 9 million in seed financing from investors who focus on encryption, including similarly treated projects.

Learning from previous failure lessons such as FTX, and the exchange of coding run by Sam Benkman, which collapsed in an amazing way in late 2022, Gupta designed the basic stock exchange of True Markets, Truex, to separate basic trading functions. This included relying on Blockchain Paxos to serve as a guardian, instead of sticking to the assets of the user itself.

Truex, which works as a central identical engine for institutional users, recently focused on direct trading of customers, on immediate trading of what Gupta described as “Head and Torso” assets: Bitcoin, Ethereum and Solana. The True Markets app, which is launched this week, reflects the next main step for the platform.

Similar to Truex, the real Markets app will be unclear, which means that it does not carry encryption assets on behalf of its users. Instead, it will depend on the infrastructure provider to support the host governor. But unlike Truex, the application will focus on retail customers. It was built at the head of Solana Blockchain and supports the distinctive symbols based on Solana, which has grown popularly thanks to the continuous Memecoin mutation. The real markets will whiten the new symbols available for trading every week, with warnings about potential risks, such as ownership concentration. “This really believes that the exchange should be more than a gate, not a gateway goalkeeper,” said Gupta luck.

Although Markets True will be built at first about Solana, Gupta said they are planning to launch more cryptocurrencies throughout the summer, including Bitcoin and Ethereum, before expanding in other forms of symbolic origin.

Crowded

Although the new encryption exchange seems to enter the US market every day, Gupta argued that use in the United States is still often bound by some options, as Coinbase is still preferred. For users, the lack of real competition means high fees and slow treatment times.

Gobta said that the goal of real markets is to target both old and spacecraft users for the first time. Despite the abundance of options, Gupta said his deep backgrounds in both traditional financing and encryption trading means that they can rebuild the exchange experience from A to Z, including providing a non -trustee solution. And he told luck. “They are all either billionaires or in prison now, and the other two are me and the founder of my country.”

VIP investors bought the Gupta’s Vision vision, through the new Paypal Ventures, variable, and current investors including RRE Ventures and mutual projects. The company currently has 10 full -time employees.

While Gupta admitted that he could not compete for marketing with other encryption exchanges, which are often separated from exorbitant care for sports teams and squares, he said that the real market goal is to be the best choice for users by the end of the summer at the level of price, speed and experience. This includes better offers and data, such as the so -called “spark lines”, or market momentum perceptions and price behavior.

“There is room for competition,” said Gupta. “Our goal is not necessarily the biggest exchange, but to be the best infrastructure, the best team, and the best platform there.”