Decentralized Exchange Alex Raises $2.5M

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Trust Machines, Gossamer Capital, and other investors have recently invested $2.5 million in the development of the decentralized exchange Alex, which is based on Bitcoin.

According to Muneeb Ali, co-founder of Trust Machines:

“Bitcoin is now being watched more than any other blockchain because of what is happening with NFTs based on it and the hype around the potential use of digital gold.”

The project team plans to use the funds raised to develop the ecosystem and expand the user community.

Ali has noted that Bitcoin is “unique in its decentralization and immutability” and “unmatched in performance history, uptime, market capitalization, and recognition as a store of value.”

The Hiro Wallet browser wallet is required to use the Alex platform, which also provides opportunities for profitable farming.