HTX Ventures invests in BSX Exchange in Singapore, Sept 2024
- HTX Ventures has made a strategic investment in BSX Exchange, a decentralized trading platform in Singapore.
- Since its launch in April 2024, BSX has facilitated over $4.5 billion in trading volume and plans to expand its product offerings.
- The investment positions BSX for significant success in the DeFi ecosystem, leveraging a large user base and strong liquidity.
On September 11, 2024, HTX Ventures announced a strategic investment in BSX Exchange, a decentralized trading platform based in Singapore. BSX, which launched in April 2024, has already achieved significant milestones, including over $4.5 billion in trading volume and $1.3 million in revenue. The platform specializes in both spot and derivative trading, offering users a highly performant trading engine with 10ms latency and the ability to trade with up to 1000x leverage. The recent $4 million seed-round funding will enable BSX to expand its product offerings, which include plans for a spot aggregator, earning products, and staking options. Additionally, BSX aims to enhance its infrastructure by introducing a Layer 3 network on Base, optimizing its on-chain order book. The company is also set to launch a trading game on Telegram and an exclusive NFT collection to attract new users. BSX operates within the Base ecosystem, which boasts 110 million globally verified users, providing a strong liquidity foundation for its operations. The investment from HTX Ventures is seen as a significant step in supporting BSX's mission to onboard traditional finance customers into the decentralized finance (DeFi) space. The BSX team emphasizes their role in building essential components of the DeFi ecosystem, leveraging the user base of Coinbase's Base L2. Overall, this investment highlights the growing interest in decentralized trading platforms and the potential for significant growth in the DeFi sector, as traditional finance increasingly intersects with blockchain technology.