0x Labs secures $70M Series B led by Greylock

0x Labs secures $70M Series B led by Greylock 1

0x Labs, a decentralized exchange infrastructure provider, has secured a substantial $70 million funding in a Series B funding round led by Partners, Forbes reported Tuesday, as the source of the news.

Per the report, participants in the round included NFT marketplace OpenSea, Pantera Capital, Jump , and Jared Leto. The present valuation of the company has not been revealed.

Based in San Francisco, 0x Labs is an open-source protocol that provides decentralized exchange infrastructure to crypto exchanges and enables peer-to-peer trading. Before its Series B, 0x Labs previously raised $24 million in a private token sale in 2017 and $15 million in a Series A equity round. S

The company recently partnered with crypto exchange Coinbase to provide infrastructure for its soon-to-be-launched NFT platform ‘Coinbase NFT'. At the time, the announcement pumped its ZRX token price by as much as 67% to a record high of $1.18. At press time, the token was trading at $0.782, up by 2.55% from the previous day.

Explaining its future development plans, Will Warren, co-founder and co-CEO of 0x Labs, told Forbes:

“We're planning to use this funding to continue the growth of 0x Labs, expanding our [62-member] team and doubling down on the current products and services that we're offering.”

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0x Labs secures $70M Series B led by Greylock 2

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