TurboDEX Secures $20 Million in Seed Funding to Propel the TurboX Token (TBX) and Expand Trading Platform

United Kingdom, 30th Apr 2024, King NewsWireWe have observed a dynamic trend in cryptocurrency fundraising over the past two years, where we saw a historic high in April 2022 with $7.12 billion raised, the market has since experienced fluctuations and went down significantly. Despite these market conditions, TurboDEX’s successful fundraising effort underscores the confidence investors have in quality DeFi projects.

                                             Source: CryptoRank Fundraising Analytics Dashboard

TurboDEX stands out by securing a remarkable $20 million in Seed Funding. This achievement comes at a time when investments in the sector are cautious, and yet, the promise of decentralized finance (DeFi) continues to captivate venture capital interest. This significant financial injection will accelerate the development and deployment of the TurboX Token ($TBX), further enhancing the platform’s capabilities and reinforcing its market position.

The investment round attracted participation from many major venture capital firms which include: Quadrat Capital, Midana Capital, Naver Financial and many more. Their involvement underscores a strong confidence in TurboDEX’s strategic vision and its commitment to reshaping the financial trading landscape.

Having laid a robust foundation with a versatile decentralized trading infrastructure, seamlessly integrating multiple exchanges to ensure liquidity, and rolling out a suite of advanced trading features and tools, TurboDEX has demonstrated an unwavering commitment to innovation and security. The successful beta launch of the platform, featuring sophisticated trading bots and the introduction of an NFT collection, further exemplifies the company’s dedication to its roadmap. The first phases of TurboDEX were successful beyond imagination of the team, reaching more than $100 million in volume traded, executing close to 260,000 trading orders, having close to 350,000 active traders and currently managing $681 millions worth of assets. To the eye of investors, this was the reason why they believe in the potential and commitment of TurboDEX, and the reason why they continue to believe in TurboDEX future development.

The infusion of $20 million in seed funding is designated for the ambitious development goals outlined in TurboDEX’s roadmap for 2024. This period focuses on expanding the ecosystem by enhancing trading bot capabilities, adding VIP features, integrating more exchanges, and refining the mobile application to elevate user experience. Collaborating with top tier exchanges such as Binance, Gemini, Coinbase, Kucoin, Bybit and many more are in consideration and plan of TurboDEX for their expansion.  The launch of a new NFT collection is set to provide unique value to users, alongside the promotion of bot-building for passive income avenues. The latter half of 2024 will witness the integration of AI in trading, with machine learning algorithms and customizable bots to inform trading decisions and strategies, further establishing TurboDEX’s innovative edge in the DeFi space.

“We’re proud to secure $20 million in seed funding during a cautious investment period, affirming investor confidence in TurboDEX’s vision and technology. This investment fuels our commitment to advancing DeFi, enhancing our trading platform, and rolling out the TurboX Token. We’re set to redefine decentralized finance, backed by strong support from our partners and investors.” – TurboDEX’s representative.

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About TurboDEX

TurboDEX is at the forefront of financial technology, offering a comprehensive trading platform that leverages cutting-edge technology to provide traders with powerful tools and resources. With the introduction of the TurboX Token ($TBX), TurboDEX is setting new standards in the integration of blockchain technology within financial trading.

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Organization: TurboDEX

Contact Person: Illya Graham


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Country: United Kingdom

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