Rails: Bridging Gap in Crypto Market with $6.2M Funding

Decentralized crypto exchange, Rails, has secured a $6.2 million funding round to address voids in the crypto market following FTX's crash in 2022. Rails aims to bridge the gap between centralized and decentralized exchanges, gaining attention for its emphasis on customer deposit safety and crypto derivatives trading. The funding, led by Slow Ventures and supported by CMCC Global, Round13 Capital, and Quantstamp, will be allocated to expanding its engineering team and regulatory strategies. Rails, founded by Satraj Bambra, Megha Bambra, and Rick Marini, plans to cater to institutional clients and high-net-worth investors, offering self-custody solutions and perpetual futures contracts trading. The exchange is set to open for beta testing recipients in May before a public launch and is aiming to address the gaps in the market by combining central computing with decentralized custody. Rails also envisions expanding its social functions and partnerships with industry players after the public launch later this year.