Coinbase veterans secure $11m to launch stablecoin-native DeFi app on Solana

by

Oh là là! Coinbase Whizzes Raise $11M for a DeFi App That’s More Stable Than Your Last Relationship! 💸

Ah, mes amis! Gather ’round as we unveil the latest spectacle in the grand theater of finance! A troupe of former Coinbase luminaries has conjured a staggering $11 million to unveil their pièce de résistance: True Markets, a DeFi app that promises to be as stable as a Frenchman’s love for cheese! 🧀

True Markets, a delightful little venture birthed by the illustrious Vishal Gupta and the ever-so-brilliant Patrick McCreary, aims to grace our iPhones with a mobile-first, non-custodial experience. With this latest funding, their coffers now overflow with a total of $20 million, as they place their bets on Solana—because who doesn’t want faster and safer crypto trading? 🚀

The funding round was co-led by the ever-ambitious Accomplice and RRE Ventures, with a sprinkle of support from Reciprocal Ventures, Variant Fund, and even PayPal Ventures! It seems everyone wants a piece of this digital pie! 🥧

Our gallant founders, Gupta, the head honcho of exchanges, and McCreary, the engineering wizard, have crafted a platform that allows for on-chain token trading with the grace of a ballet dancer and the stability of a well-aged Bordeaux. The app will initially support the crème de la crème of Solana-native assets, with dreams of expanding into the bustling markets of centralized finance. 🍷

“Retail traders have been stuck with clunky workflows, unclear pricing, and fragmented liquidity. 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.”

— Vishal Gupta

But wait, there’s more! The platform boasts real-time market sparklines, wallets hosted by Turnkey (because who doesn’t love a good turnkey?), and smart order routing powered by Definitive. With this newfound treasure, True Markets plans to integrate TrueX, their very own institutional-grade centralized exchange, promising deeper liquidity and a mobile experience that will make you swoon! 💖

Read More

2025-05-21 09:53