Former Coinbase Executive Raises $11 Million to Launch DeFi App on Solana
A group of former Coinbase executives has raised $11 million to launch True Markets, a stablecoin-native DeFi platform powered by the Solana blockchain, aiming for a self-custody, real-time trading experience right on mobile devices.
The new investment brings True Markets’ total funding to $20 million, marking a strong commitment from investors to the vision of faster, safer crypto trading on the Solana platform.
The Solana Network is at the heart of next-generation DeFi
True Markets was co-founded by Vishal Gupta, former head of trading at Coinbase, and Patrick McCreary, former senior engineering lead. The app is designed specifically for mobile devices, supporting on-chain token trading with stablecoins and providing a non-custodial experience for users’ assets.
According to a press release issued by the company, the platform will support Solana’s native assets in the initial phase and is expected to expand to centralized financial markets (CeFi) in the near future.
Modern and highly secure technology architecture
True Markets’ platform is built with many advanced technologies:
Real-time price updates via live market data streams.
Self-custody wallets are integrated through Turnkey solutions, giving users full control over their assets.
Intelligent order routing provided by Definitive, ensuring speed and efficiency when executing transactions.
In addition, True Markets plans to integrate TrueX, an institutional-grade centralized exchange developed by the company, to increase liquidity and expand advanced trading features on the mobile application.
Major Investors Participate
The new round was co-led by Accomplice and RRE Ventures, with participation from major funds such as Reciprocal Ventures, Variant Fund, and PayPal Ventures.
The strong backing from major investors shows confidence in True Markets’ growth potential in combining DeFi, stablecoins, and mobile user experiences – a trend that is increasingly popular in the Web3 space.
