Dubai-based Web3 startup ZKX raised $4.5 million in seed from StarkWare and others


Dubai-based Web3 startup ZKX raised $4.5 million in seed from StarkWare, Alameda Research, Amber Group, Huobi, Crypto.com and others.


The startup plans to enter emerging markets, including India, with its decentralised exchange that is currently under development and expected to be launched in the fourth quarter of 2022. ZKX founder Eduard Jubany stated that there is a lot of interest in cryptocurrency blockchain technologies in India and throughout Asia. ZKX will use the new funds to further develop its core offerings, which include the ZKX open-source protocol, DAO funding, and the expansion of the ZKX ecosystem. The Dubai-based startup hopes to create new frameworks with the ZKX protocol to address challenges in the decentralised finance (DeFi) market, such as over-reliance on oracles, difficulty in bootstrapping liquidity for new derivatives, and centralised listing mechanisms.

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