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Cryptocurrency News Articles
GRVT Exchange Secures $3.3B in Monthly Trading Volume Commitment Ahead of Mainnet Launch
Sep 09, 2024 at 06:05 pm
The hybrid crypto exchange received a $3.3 billion monthly trading volume agreement from popular market makers such as Galaxy Trading Asia, DV Chain, CMS and others
Crypto exchange GRVT has announced that it has secured $3.3 billion in monthly trading volume ahead of its mainnet launch.
The hybrid crypto exchange has received a $3.3 billion monthly trading volume agreement from popular market makers such as Galaxy Trading Asia, DV Chain, CMS and others, who have committed to delivering the trading volume on a monthly basis.
The achievement can partly be attributed to GRVT’s hybrid technological stack, according to Hong Yea, the co-founder and CEO of GRVT.
Speaking about GRVT’s value proposition over centralized exchanges (CEXs), Yea told Cointelegraph:
The significant monthly trading volume commitment comes shortly before GRVT’s mainnet launch, which is scheduled for the fourth quarter of 2024.
DeFi is still lacking in user experience, but hybrid exchanges can fill the gap
One of the most pressing criticisms of decentralized finance (DeFi) is a lack of user experience, which is making crypto beginners opt for CEXs instead.
The steep learning curve often frightens crypto holders away from decentralized solutions, explained Yea:
As a hybrid exchange, GRVT aims to combine the efficiency of traditional finance (TradFi) with the secure settlement of the blockchain layer while striving for a user experience similar to Web2.
GRVT partners with 16 leading market makers
Ahead of its mainnet launch, GRVT has secured a strategic commitment from some leading crypto market makers, also known as liquidity providers.
The 16 market makers include Galaxy Trading Asia, Ampersan, Amber Group, IMC, Flow Traders, Pulsar, QCP, Selini and more.
The new collaborations are mainly attributed to the platform, where “anyone can trade anything” in one place, explained Yea:
GRVT has been in open beta testnet since Aug. 5, with over 2.5 million registered users on its waitlist.
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