Abu Dhabi company invests 5 million dollars in crypto exchange GRVT

The hybrid crypto exchange GRVT announced a 5 million dollar investment from Abu Dhabi-based Further Ventures, bringing the total funding to 14.3 million dollars. This was reported by the platform’s press service.

The new investment follows GRVT’s acquisition of Class M Digital Asset Business licenses from the Bermuda Monetary Authority, making it the world's first regulated decentralized exchange (DEX). Further Ventures' investment reflects confidence in GRVT’s potential to drive financial sector innovation. The partnership aims to strengthen the development of institutional investment products on the blockchain in the Middle East.

Specifically, the Abu Dhabi company will support the crypto exchange in areas such as product development, legal and regulatory compliance, talent acquisition, and business expansion.

Earlier, we reported that the U.S.-based crypto exchange Coinbase launched a Bitcoin-backed lending service through the decentralized platform Morpho.