The hybrid encrypted exchange GRVT has completed a $19 million Series A financing, led by ZKsync and Further Ventures

ChainCatcher news, according to The Block, the hybrid decentralized exchange GRVT based on the Ethereum scaling layer ZKsync has completed a $19 million Series A funding round, led by ZKsync and Further Ventures, with participation from EigenCloud and 500 Global.

The new funds will help GRVT expand its product range, covering cross-exchange vaults, cross-chain interoperability, and plans to utilize EigenDA's programmable privacy features. GRVT combines the user experience and compliance of CEX with the self-custody features of DEX. Its mainnet Alpha version will launch on ZKsync by the end of 2024, with trading categories expanded from cryptocurrency perpetual contracts to spot and options. Currently, GRVT is applying for operating licenses in multiple locations and had already obtained a VASP license in Lithuania as early as 2023. Previously, GRVT raised approximately $14.3 million through multiple funding rounds and secured $2.2 million through a private token sale in March 2024. GRVT is set to conduct its TGE in Q1 2026, with community rewards accounting for 20% of the total token supply.