Former Coinbase executives Vishal Gupta and Patrick McCreary have launched TrueX, a non-custodial exchange focused on stablecoin trading. TrueX uses a proprietary matching engine and ensures secure segregation between trade execution and asset custody. The exchange only facilitates trades and does not control or hold the actual assets, which are typically held by a regulated third-party custodian. TrueX has received $9 million in seed funding from various investors including RRE Ventures and Paxos. The default settlement currency on the exchange is PYUSD, a stablecoin issued by Paxos Trust Company and designed for payments.



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