Hybrid Exchange GRVT Secures 16 Top Market Makers and $3.3B Monthly Volume Ahead of Q4 Mainnet Launch
Singapore, Singapore, September 13th, 2024, Chainwire
Hybrid cryptocurrency exchange GRVT (pronounced “gravity”), ZKsync’s first official Validium ZK Chain, is thrilled to announce its partnership with 16 leading industry market makers, including Galaxy Trading Asia Limited., Ampersan, Amber Group, IMC, Flow Traders, Pulsar, QCP, Selini, and more. The strategic alliance, bolstered by a commitment of $3.3 billion in monthly trading volume from Galaxy Trading Asia Limited., DV Chain, CMS, and other key players, reinforces GRVT as a trusted hub of liquidity and market stability, particularly during volatile market conditions.
This achievement comes even before GRVT’s Mainnet launch, scheduled for Q4 this year, underscoring the market’s high anticipation and confidence in GRVT’s hybrid concept that combines the efficiency of TradFi with the secure settlement of blockchain technology.
GRVT’s Open Beta Testnet is currently live, with more than 2.5 million users registered on waitlist.
Commitment to Deep Liquidity, Market Stability and Trader Confidence
Amid the recent turbulence and the crypto market’s inherent volatility, the demand for deep liquidity and stable trading environments only grows stronger each day.
GRVT’s collaboration with industry giants enables the exchange to handle large orders with minimal slippage, delivering tighter bid-ask spreads and lower trading costs for both retail and institutional traders. These measures are essential in maintaining a stable market environment, enhancing trader confidence and ensuring continuous, reliable trading activity.
“We are deeply grateful for the trust our partners have placed in us,” said Hong Yea, Co-Founder and CEO of GRVT. “Making money in financial markets is challenging. GRVT envisions a platform where anyone can trade anything in one place. These collaborations are one of the very first and critical steps towards our mission to offer a convenient and efficient platform for deploying investment strategies, trading, and generating self-custodial wealth in an open, trustless environment through exchange liquidity, smart contracts, and community distribution.”
John Cahill, Chief Operating Officer at Galaxy Trading Asia Ltd., said, “Platforms like GRVT are pushing the boundaries with innovative hybrid models that blend the strengths of TradFi and DeFi to offer deep liquidity and crucial infrastructure needed for efficient, secure trading across digital asset options and other derivatives. The commitment from leading industry players and the substantial liquidity being channeled into this space underscore the vast opportunities ahead.”
Darius Sit, Founder and CIO of QCP, said, “A pressing need has emerged for solutions that address critical issues in asset safety, data privacy and trading efficiency. GRVT’s approach offers a very promising path forward and we are thrilled to be part of the development of a more secure and efficient ecosystem.”
Christophe de la Celle, Chief Commercial Officer at Selini Capital, said, “With the DEX landscape rapidly evolving, the competition among some remarkable incumbents is intensifying. Among the 2024 cohort of new challengers, GRVT stands out as a leader. Their approach is both professional and well-structured, with a strong focus on catering to both professional and retail traders. We are excited to partner with GRVT and look forward to the significant impact they will have upon their launch.”
Daniel Ku, CEO at Ampersan, said, “Decentralised trading platforms will continue to be an important part in the growth of the crypto trading industry. They can bring diversification of counterparty risks while still allowing price discovery across many assets and product types. GRVT is well-positioned to address these needs within a scalable, high-frequency infrastructure. As a key market maker, Ampersan is excited to collaborate with GRVT in bringing a liquid and performant platform to the market.”
Martin Cheung, Head of Options Trading at Pulsar, said, “Partnering with GRVT is an important step for Pulsar as we enhance our trading capabilities. GRVT’s innovative infrastructure is a refreshing complement to our trading needs, offering the agility and security that are essential in the crypto markets. Onboarding with GRVT will undoubtedly strengthen our existing strategies, helping us maintain our strong track record. Together, we are poised to become a key force within the crypto ecosystem, driving market efficiency and growth.”
Michael Lie, Global Head of Digital Assets at Flow Traders, commented, “This new partnership is another step forward in increasing our proximity to innovation occurring in the digital assets space. GRVT’s approach combines the benefits of centralized and decentralized finance. This is particularly relevant for market makers and liquidity providers like Flow Traders, because we’re at the intersection of TradFi and DeFi and therefore deeply aware of the trade-offs that users face today. GRVT’s unique approach is a significant step forward in improving usability and accessibility for a broad range of users.”
“As we look ahead, we’re excited about GRVT’s roadmap and the innovative developments we have in store, which will further strengthen our platform and continue to build confidence among our users and partners alike.” added Yea.
For more information and to join the GRVT community, visit grvt.io.
Disclaimer: Cryptocurrencies carry high risks. This content is not a distribution of, or an offer or solicitation to provide, financial services or products, nor a representation as to their suitability or legality for you. GRVT is not a regulated entity and your funds are not subject to regulatory protection. Before making any decision based on this content, please seek financial and legal advice, and carefully review GRVT’s Risk Disclosure and Disclaimer in full.
Singapore users: GRVT is not licensed, approved, authorised, designated, recognised, registered or otherwise regulated under any legislation administered by the Monetary Authority of Singapore (“MAS”). As such, users will not have the benefit of any regulatory safeguards imposed by the MAS.
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About GRVT
GRVT (pronounced “gravity”) is a hybrid derivatives exchange enabling off-chain order matching and on-chain settlements at 600,000 TPS. Founded in 2022 and backed by Matter Labs, GRVT is ZKsync’s first official Validium ZK Chain. Our mission is to democratize the financial market with secure, self-custodial solutions, providing a safe, efficient and simple trading environment for everyone.
GRVT official website: https://grvt.io/
For media inquiries, contact: press@grvt.io
