GEM commits $200 million capital to CeDeFi exchange Unizen

abdelaziz Fathi

CeDeFi exchange Unizen announced that it has received a $200 million capital commitment from a new strategic partner, Global Emerging Markets (GEM).

Fresh funds will fuel the next levels of adoption for a next-gen crypto exchange aggregator designed to improve the trading experience for retail and corporate market players.

The milestone-based and performance-related commitments, which are subject to satisfaction of certain conditions, aims to make sure the initial funding is optimized to the fullest.

Global Emerging Markets (GEM) is a $3.4 billion alternative investment group that manages a diverse set of investment vehicles focused on emerging markets across the world.

Unizen is a smart exchange ecosystem that combines the features of both centralized and decentralized exchanges, creating a structure coined “CeDeFi.” The company is promoting the new funding round as a major milestone in the development of its trading ecosystem.

Unizen is building a smart exchange ecosystem that integrates the world of centralized exchanges with that of decentralized applications, adding professional analytics tools into the mix. One of the biggest advantages of Unizen is that it supports CeFi and DeFi apps on multiple blockchain networks, so trades can be aggregated across the entire crypto ecosystem at favorable rates compared to other exchanges.

Lastly, the platform will also offer incentives and rewards to the native $ZCX token holders. The ZCX token permits holders to benefit from lower trading fees, similar to how BNB works on Binance. Unizen also provides numerous staking pools for ZCX, and holders of the token get to invest in emerging crypto projects incubated by ZenX Labs, which is the project’s accelerator.

$ZCX is already available on several token exchanges including Unizen, Uniswap, and other centralized exchanges such as Kucoin, Gate, MEX, and BitMart.

“We are proud to welcome GEM to the Unizen Ecosystem as a potent and strategically aligned growth partner that can support the rapid expansion of the Unizen platform, brand and community,” Sean Noga, CEO of Unizen commented on the latest funding.

“The latest capital commitment by GEM will help Unizen become the first CeDeFi exchange to combine the functionality of first-party and third-party centralized exchanges (CEXs) and decentralized exchanges (DEXs) in order to meet the needs of both retail and institutional traders. The exchange also includes an in-house aggregator that searches and finds the most efficient, fastest, and least expensive trade routes across multiple CEXs and DEXs including Binance, Uniswap, Pancakeswap etc,” the statant reads.

The company behind Unizen is Zen Innovations Pte. Ltd., headquartered in Singapore and incorporated as an exempt private Company.

According to Unizen, the proceeds of this funding will be utilized in accelerating product development. The company is also looking to actively hire across many functions, including engineering, design and operations.

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