- Pact Swap secures $5M for cross-chain DEX development.
- Focuses on native asset swaps without wrapping or bridges.
- Expected to influence liquidity and enhance cross-chain trading.
Toby Gilbert, CEO of Coinweb, introduces the cross-chain DEX Pact Swap with key funding from DNA Fund, launching native swaps of major cryptocurrencies.
The $5 million investment in Pact Swap signals growing institutional interest in cross-chain solutions, potentially affecting liquidity and interoperability within the crypto market.
Main Content
Introduction
Pact Swap, a decentralized exchange under Coinweb, has secured a $5M funding round led by DNA Fund. This move is aimed at enhancing its cross-chain capabilities, focusing on swaps of native assets without wrapping. This strategic expansion is internalized within the ecosystem to ensure not only security but also interoperability across blockchain networks.
Expanding Cross-Chain Capabilities
Led by CEO Toby Gilbert, Pact Swap progresses towards enhancing native cross-chain swaps. Adding support for various cryptocurrencies, it avoids wrapped assets and intends to significantly impact cross-chain liquidity and trading patterns. As Toby Gilbert, Co-founder & CEO, Coinweb, emphasized,
“Pact Swap is advancing a unique cross-chain DEX model focused on native asset swaps without bridges or wrapped tokens.”
The introduction of new funding is expected to bolster cross-chain transactions, impacting native assets such as BTC, ETH, and BNB. This could initiate shifts in liquidity dynamics within the decentralized finance landscape. The financial implications of the Pact Swap funding could manifest in enhanced liquidity for supported assets. Businesses and traders within the cryptocurrency sector may experience notable shifts following this strategic expansion.
Funding and Future Implications
Historical precedents suggest that significant funding can alter liquidity and asset behavior. The absence of publicly disclosed terms may affect immediate investor reactions. Meanwhile, the DNA Fund’s commitment underscores belief in Pact Swap’s potential to scale cross-chain capabilities.
Regulatory concerns often accompany such expansions, although no new compliance actions have been noted. Observers anticipate a focus on further technological innovations as Pact Swap scales and integrates more blockchains. With the growth in blockchain networks and native asset integration, Pact Swap aims to redefine trading experiences by simplifying and securing cross-chain transactions.
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