BitCoke Exchange on May 12 revealed that it has successfully raised $20 million at a strategic private round in early 2022. The funds will be primarily used by the centralised exchange to design and develop key features connecting Cex with Dex, or decentralised exchange.
According to BitCoke's official blog, the financing deal was reached with a group of investors led by Huobi Exchange, which also includes other notable institutions, and communities and KOLs, such as RedLine DAO, Krypital, LD Capital, AKG, VRM, Mint, WeBlock, 7 Clock, HTR, NFTGO, LTP, Scorpio, Eureka, Hotbit, JL Capital, Pento.
Pietro Riccio, CEO of BitCoke Exchange, said that the strategic financing highlighted BitCoke's growth potential as a professional trading platform. "As BitCoke continues to adapt to the paradigm shift in crypto trading, this institutional investment will accelerate the development of the exchange and the promotion of BitCoke native token, as well as help us explore the merging between Cex and Dex exchanges."
Charles, head of Huobi investment arm, stated, "BitCoke is a dedicated exchange that focuses on derivatives market, and known for its professional products and friendly user experience. Huobi believes BitCoke is a trusted reliable partner for collaboration."
BitCoke is regarded as the world's first Quanto swap crypto exchange, with trader-centric features, i.e. fair matching, fast execution and low fees. Its original products, like Quanto swap, proprietar chart, fund management system, make the exchange popular among traders, funds, and asset management firms. BitCoke has long ranked in the top 10 by volume at the CoinMarketCap derivative marketplace.