Odaily News Further Ventures, a venture capital firm backed by Abu Dhabi sovereign wealth fund ADQ, has invested $5 million in GRVT, a hybrid crypto exchange based on ZKsync. GRVT recently launched its mainnet Alpha version, initially focusing on perpetual contract trading, and currently has an average daily trading volume of $50 million, 800 active traders and 55 institutional clients.
This round of financing brings GRVT's total financing to $14.3 million. The funds will be used to expand spot and options trading, upgrade its Bermuda crypto business license, and seek more regulatory approvals in the European Union, Dubai, and Abu Dhabi. In addition, GRVT plans to issue its token in the second half of 2025. (The Block)