TrueX is a new cryptocurrency exchange, launched by former Coinbase and Goldman Sachs executives, Vishal Gupta and Patrick McCreary. It is a stablecoin-native platform, meaning that it exclusively uses stablecoins for transactions and settlements, aiming to offer a more secure, efficient, and transparent trading environment.

The founders, Gupta and McCreary, bring substantial experience from their previous roles at Coinbase, Circle, and Goldman Sachs, and have designed TrueX to address key challenges in the crypto market. One of the main goals of TrueX is to enhance security by separating trade execution and custody of assets, reducing risks commonly associated with centralized exchanges.

What sets TrueX apart is its focus on stablecoins like PayPal USD (PYUSD), leveraging their stability compared to volatile cryptocurrencies. This approach allows for smoother and more predictable transactions, making the platform especially attractive to institutional clients. By partnering with Paxos, TrueX can ensure fast and seamless settlements, while also preparing to offer a variety of stablecoins for trading.

TrueX has also secured $9 million in seed funding from major investors, including Paxos and the Solana Foundation, which will help it scale its operations and support institutional traders. Additionally, the platform is launching a liquidity program that rewards high-volume traders with discounted fees and even offers a chance to earn company equity.

The exchange hopes to redefine crypto trading by combining stablecoin technology with enhanced transparency and non-custodial services, making it a strong contender in the evolving digital asset market.