Coinbase alumni raise $11M to launch True Markets, a stablecoin-native DeFi app on Solana

A team of Coinbase alumni has raised $11 million to debut True Markets, a stablecoin-native DeFi app offering real-time execution and self-custody on Solana.

A team of Coinbase alumni has launched True Markets, a startup focused on building a non-custodial startup that is making a mobile-first push with its stablecoin-native DeFi app.

The startup, which is bringing its app to iPhones on Wednesday, has scored $11 million in a round that brings total funding to $20 million.

Accomplice and RRE Ventures are co-leading the round, with additional participation from Reciprocal Ventures, Variant Fund, and PayPal Ventures, among other investors.

Former Coinbase executives Vishal Gupta, who was most recently head of exchange at the firm, and Patrick McCreary, a senior engineering leader, are co-founding True Markets. The startup’s app will offer on-chain token trading with stablecoin settlement and a non-custodial setup. The app will launch with support for top Solana-native assets, and it will expand into CeFi markets over time.

“Retail traders have been stuck with clunky workflows, unclear pricing, and fragmented liquidity,” said Gupta, in a statement. “Our goal is to deliver a fairer and more transparent experience that makes asset discovery simple, shows real-time market momentum, and feels as intuitive as the best apps on your phone.”

The platform will include real-time market sparklines, hosted wallets supported by Turnkey, and smart order routing powered by Definitive, according to the press release.

With the funding, True Markets also plans to launch integration with TrueX, its own institutional-grade CEX, offering deeper liquidity in mobile experience.