Cross-DEX Platform Primex Finance Closes $5.7 Million Funding Round

Primex Finance has closed a $5.7 million strategic funding round co-led by Stratos Technologies and CoinFund. Alongside these companies, Hypersphere and GoldenTree Asset Management also participated in the funding program. In addition, leading liquidity providers such as Wintermute, GSR, and LedgerPrime also joined.

The following companies also supported the seed round: Pragma Ventures, Peech Capital, HG Ventures,  ZBS Capital, Mapleblock, NxGen, Magnus Capital, Formless Capital, Mask Network, Morningstar Ventures, and a few more notable angel investors.

Primex Finance Co-Founder and VP of Growth Dmitry Tolok shared their excitement for the amount of support Primex received.

Having such great partners and expertise onboard will help Primex Finance close the gap between the two biggest DeFi use cases: lending and decentralized exchanges, as well as enabling advanced trader tooling in a truly decentralized way.

Meanwhile, Chief Investment Officer of Stratos Technologies Rennick Palley holds Primex in high esteem. Palley calls Primex a game-changer for levered portfolios without the need for centralized exchanges or collateralized lending protocols. He praises the platform’s capabilities and services.

Primex replicates many of the capabilities of TradFi prime brokers, but in a way that is composable with other protocols, especially DEXs, and consistent with the philosophy of DeFi.

Primex has achieved a key milestone through this strategic investment. This achievement allows the platform to move into the market and enables version one of the protocol’s launch. As a result, leveraged trading in cross-DEX environments becomes a possibility. Now, Primex is aiming to be deployed on a few chains to bridge their DEXs with liquidity.