Hybrid cryptocurrency exchange Cube.Exchange has recently announced that it has secured $12 million in Series A funding, with 6th Man Ventures leading the investment round. Other notable investors include GSR Markets, Foundation Capital, ParaFi Digital, Susquehanna Private Equity Investments, Everstake Capital, and more. As a result of these investments, Cube.Exchange’s valuation has soared to $100 million.
According to Cube.Exchange CEO Bartosz Lipinski, the company was not actively seeking funding but decided to respond to the substantial interest from investors. The entire funding round was closed in less than a month, with token warrants being part of the deal.
Following the injection of capital, Cube.Exchange plans to expand its team of 25 members significantly. Additionally, they aim to obtain licenses in various jurisdictions to further advance their operations. At present, Cube.Exchange is in the early access phase, with a public launch scheduled for the upcoming months. The platform currently offers users points that can be exchanged for a range of rewards.
Although the exchange has already distributed significant amounts of tokens, including approximately $250,000 worth of BONK tokens, Cube.Exchange has no immediate plans to create its own token. It is worth mentioning that Cube.Exchange previously secured $9 million in investments during a seed round of financing.