Stablecoin-native cryptocurrency exchange TrueX completes $11 million Series A funding round

Stablecoin-native cryptocurrency exchange TrueX announced the completion of an $11 million Series A funding round, led by Accomplice and RRE Ventures, with participation from Reciprocal Ventures, Variant, and payment giant PayPal. The new funds are intended to support asset protection through external custodians like Paxos Custody. Currently, TrueX uses PayPal's stablecoin PYUSD as its preferred trading token, with Paxos providing third-party custody services for TrueX's users. It is expected that their services will first be available to U.S. institutions and some international institutions in certain regions.