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Cryptoknowmics 2022-06-28 07:07:04

Unizen Secures $200 Million Capital Commitment from GEM

Global Emerging Markets (GEM), a private equity firm, has invested $200 million in cryptocurrency exchange Unizen, which it plans to use to accelerate its business and environmental growth. Instead of getting the $200 million funding all at once, Unizen stated on June 27 that the investment would come in the form of a “capital commitment,” with some of the budget released upfront and the remainder delivered later, dependent on accomplished milestones. The specific requirements Unizen had to satisfy to secure the funds were not made clear. Unizen Calls itself a “CeDeFi” Exchange It is running on the BNB Chain, formerly known as the Binance Smart Chain, Unizen bills itself as a “CeDeFi” exchange that combines elements of both centralized exchanges (CEXs) and decentralized exchanges (DEXs). By locating and compiling the most economical trades across DEXs like Uniswap and CEXs like Binance, it seeks to draw in both institutional and retail investors. GEM, an alternative investment firm with a $3.4 billion market cap specializing in emerging markets, chose Unizen to “have a hand in technology that will define the future of finance.” ZenX Labs – Another Business of Unizen Unizen also has a business unit called ZenX Labs, a CeDeFi incubator that invests in and supports decentralized initiatives by offering technical assistance and helping with compliance. Most recently, ZenX Labs announced that it was constructing and launching a sma...

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