IDEX Brings in $2.5 Million to Expand Into IDEX 2.0 Decentralized Exchange

IDEX, a decentralized cryptocurrency exchange, has revealed that it has brought in another $2.5 million in an investment by G1 Ventures and Borderless Capital, as well as some funds from Collider Ventures and Gnosis, according to a press release put out by Pulse 2.0.

The group’s newly received funding will go toward launching what it calls IDEX 2.0, a “novel high-performance DEX,” the release also states.

This exchange should be as fast and easy to use as a normal exchange, while offering the security of a decentralized one. The latter type of exchange generally offers less latency thanks to what they call “on-chain execution.”

Speaking on the matter is Alex Wearn, the co-founder and CEO of IDEX, who said:

“We are thrilled to have the support of industry expert investors to help fuel IDEX 2.0’s growth. Our investors share our understanding that market makers and algorithmic traders are key to our success. Attracting this group requires us to deliver an entirely new product that offers centralized exchange features and performance paired with decentralized security. We’re extremely excited to deliver that with IDEX 2.0, the first DEX that doesn’t sacrifice performance for security.”