GRVT Secures $5 Million Investment from Further Ventures to Bolster Middle East Expansion

GRVT's Strategic Investment and Growth

GRVT, a hybrid cryptocurrency exchange, has secured a $5 million investment from Abu Dhabi-based Further Ventures, raising its total funding to $14.3 million. This investment underscores Further Ventures' confidence in GRVT's vision to innovate in the financial sector, particularly in the Middle East.

Regulatory Milestones and Market Traction

GRVT recently acquired a Class M Digital Asset Business License from the Bermuda Monetary Authority, positioning it as the world's first regulated decentralized exchange (DEX). Its Mainnet Alpha, launched last month, achieved a 30-day trading volume of nearly $1.3 billion, with a record 24-hour volume of $88 million. These milestones highlight GRVT's commitment to compliant and innovative DeFi solutions.

Partnership and Future Plans

The partnership with Further Ventures aims to develop institutional-grade on-chain investment products tailored for the Middle East market. Further Ventures will support GRVT in product development, legal compliance, talent acquisition, and business expansion. This collaboration aligns with GRVT's goal to obtain an Abu Dhabi Global Market capital markets license, further solidifying its presence in the region.

Leadership Commentary

Hong Yea, Co-Founder and CEO of GRVT, expressed excitement about the partnership, emphasizing its role in driving growth and expansion into Abu Dhabi's dynamic crypto ecosystem. Mohamed Hamdy, Managing Partner at Further Ventures, praised GRVT's approach to blending DeFi with traditional finance (TradFi) principles, focusing on compliance and self-custody.

This strategic investment and partnership position GRVT as a key player in the Middle East's growing cryptocurrency market, leveraging its regulated status and innovative solutions to attract both retail and institutional traders.