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Chainge Completes $13 Million Funding Round, Announces Focus on AI Trading

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Mon, 27/05/2024 - 16:00
Chainge Completes $13 Million Funding Round, Announces Focus on AI Trading
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With fresh funds, the Chainge team is focused on bringing advancements to the segments of cross-asset trading.

Chainge secures $13 million to propel AI-powered cross-chain trading

Global cryptocurrency ecosystem Chainge shares details of a major milestone in its journey toward revolutionizing cross-chain trading with a $10 million investment commitment from GEM Digital Limited and $3 million from Alpha Token Capital. As such, the firm concluded its recent funding round with a total of $13 million raised.

Chainge
Image by Chainge

Per the team’s statement, a fresh substantial injection of VC capital represents a resounding vote of confidence in Chainge's mission to redefine standards in cross-chain trading and empower users with seamless access to digital assets across multiple chains. 

With $13 million dedicated to fueling Chainge's growth, this investment commitment is estimated to be a watershed point in Chainge’s long-running roadmap focused on changing the narrative in trading for institutions and retail.

Under the guidance of esteemed board members, including Najam Kidwai, Mike Lempress and Dejun Qian, Chainge is on a mission to disrupt the long tail exchange market. With a vision to empower users to access any token on any chain, Chainge aims to redefine standards in cross-chain trading, capturing emerging opportunities in the rapidly evolving digital asset landscape.

In particular, as highlighted by the team’s representatives, Chainge prioritizes the introduction of artificial intelligence (AI) and machine learning (ML) instruments into the crypto trading segment. As such, Chainge’s funding announcement is aligned with the common interest in AI in crypto, one of the hottest narratives of 2024.

Top-tier funds are backing Chainge in its fundraising efforts

Chainge’s team is excited by the opportunities the fundraising unlocks for the next phase of AI and blockchain synergy:

Chainge is dedicated to crafting a future where AI-powered cross-chain trading is not only efficient and secure but also accessible to all. Their mission since inception has been to break down barriers in the digital asset space and provide users with the tools they need to navigate the complexities of blockchain technology effortlessly.

With a full-fledged two-product suite, both mobile- and web-based, backed by a robust DCRM bridge infrastructure, Chainge enables users to conduct secure cross-chain transactions across 55 blockchains, surpassing $1 billion in cumulative trading volume. 

The fundraising was co-led by GEM Digital Limited and Alpha Token Capital, two blue-chip VC funds of Web3 natives. That being said, GEM Digital Limited invested in assets listed on over 30 centralized exchanges (CEXes) and decentralized exchanges (DEXes) globally. As part of the Global Emerging Markets Group (GEM), a $3.4 billion alternative investment group, GEM Digital Limited manages a diverse set of investment vehicles focused on emerging markets, providing exposure to various sectors and investment opportunities worldwide.

Building one-stop crypto ecosystem for newcomers and pros: What is Chainge?

Alpha Token Capital (ATC) is a specialized token fund established to bolster promising token projects already active across various markets. ATC commits to elevating the intrinsic value of each crypto project, aiming to become a reliable strategic partner in fostering project growth. Among its notable investments are innovative tokens such as OPUL, Map Protocol, VELA exchange, FRONT Frontier and Vulcan Forged, demonstrating ATC's commitment to supporting the evolution and expansion of the cryptocurrency ecosystem.

Related

As covered by U.Today previously, Chainge is the first-ever holistic cryptocurrency ecosystem that offers cross-chain roaming, a novel model of value movement across various blockchains. 

Chainge’s stack includes software and hardware wallets, a trading engine, an earn module and credit card payment gateways.

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