May 20, 02:38 PM

True Markets Launches Solana-Based DeFi App, Raises $20M Total Led by Accomplice, RRE

True Markets, a fintech startup focused on cryptocurrency trading, has announced the launch of its new app and secured an $11 million Series A funding round, bringing its total raised capital to $20 million. The Series A was led by Accomplice and RRE Ventures, with additional support from Reciprocal Ventures, Variant Fund, and PayPal Ventures, as well as the Solana Foundation. The True Markets app, now available on the Apple App Store, is designed as a mobile-first DeFi trading platform built on the Solana blockchain. It aims to bridge the gap between centralized finance (CeFi) and decentralized finance (DeFi) by offering non-custodial, stablecoin-native trading services, with PYUSD as the default settlement currency. True Markets' platform is supported by Turnkey, which provides secure, non-custodial wallets, enhancing user control and trading experience. The company also has an official partnership with DefinitiveFi. True Markets' vision aligns with Solana's, focusing on building fast and fair markets powered by stablecoins and advanced infrastructure.