The cryptocurrency exchange Unizen has secured a $200 million investment from the private equity group Global Emerging Markets (GEM), which it will use to expand its business and ecosystem.
Instead of receiving the $200 million in one-time funding, Unizen said on Monday that the investment will come in the form of an “equity commitment”, with a portion of the funding to be released up front and the remainder to be provided later based on milestones achieved.
Unizen did not disclose what specific criteria it had to meet to receive the funding.
Unizen calls itself a “CeDeFi” exchange that combines features of centralized exchanges (CEX) and decentralized exchanges (DEX), and is powered by the BNB Chain, formerly known as Binance Smart Chain. It aims to attract both retail and institutional investors by finding and aggregating the most profitable trades on CEXs like Binance and DEXs like Uniswap.
GEM describes itself as a $3.4 billion alternative investment group that focuses on emerging markets, and selected Unizen with the goal of “having a hand in the technology that will shape the future of finance.”
Unizen stated that it will use the investment to expand its team, shore up its innovation and marketing pipeline, and accelerate the implementation of its trading aggregation ecosystem, also hinting at an upcoming investor token launch update for early July.although no further details were provided.
Another division of Unizen is its ZenX Labs business, a CeDeFi incubator aimed at investing in and supporting decentralized projects by providing technical expertise and assisting in compliance.
ZenX Labs recently said it was building and launching a small satellite aboard a SpaceX rocket, and that the mission was entirely funded by Dogecoin (DOGE). The rocket is expected to launch sometime this year.
For GEM, this is another investment in a blockchain-related business. In May, through his digital asset investment firm GEM Digital Limited, he provided $400 million in funding to KaJ Labs to develop Lithosphere, a platform for cross-chain decentralized applications (DApps) powered by artificial intelligence.
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