GRVT (pronounced “gravity”), an industry-first regulated decentralized cryptocurrency exchange, hits major milestone with its long-anticipated alpha mainnet launch. The platform’s user count exceeds 30,000 while a number of top-tier institutions have already arrived.
GRVT hits $15 million trading volume in its Mainnet Alpha’s first hour
GRVT, a Singapore-based cryptocurrency exchange for retail and institutions, celebrates the launch of its much-anticipated Alpha Mainnet iteration. During the first 60 minutes of its trading operations, the exchange logged $15 million in net trading volume.
The new version of the platform recorded over $8.7 million in BTC trades and $6.4 million in ETH trades. A broader range of trading pairs, product features and rewards will be available for GRVT traders in the coming weeks, team representatives stated.
Clear UX/UI and a cost-efficient trading toolkit of GRVT have already attracted a clutch of high-reputable trading firms and marketmakers, including the likes of QCP, Galaxy Trading Asia Limited, Ampersan, Arbelos, Amber Group, IMC, Flow Traders, Pulsar, Selini.
Hong Yea, co-founder and CEO of GRVT, is excited by the potential of his platform’s recent developments in the sphere of regulated crypto trading for institutions:
Today marks a historic day for GRVT. We’ve built the world’s first compliant, licensed blockchain-settled exchange, and are pioneering the building of the CeDeFi world. Our vision has always been to redesign and rebuild the global financial system on blockchain, though it’s been a challenging journey. This milestone wouldn’t have been possible without the unwavering support and dedication of our team, our trusted partners, and the retail users who have put their faith in what we’re building
GRVT has coined many industry firsts, challenging conventional TradFi and DeFi structures and reshaping expectations of what’s possible in the blockchain space for finance.
30,000 KYC-verified users already using product
As part of Elastic Network powered by ZKsync, GRVT is deployed on zero-knowledge Validium rollup for maximum security, scaling and cost-effectiveness. The platform recently obtained the Class M Digital Asset Business License from the Bermuda Monetary Authority (BMA), setting the industry benchmark for regulatory compliance.
To date, nearly 30,000 KYC-verified users are already registered on GRVT, signaling a strong initial user base poised for substantial trading activity — a figure notably higher than that of other industry players at their initial launch.
Users can also start seamlessly transferring assets between GRVT and CEX accounts or crypto wallets through Proxy Bridge now, an innovative solution designed to make cross-chain transfers effortless by XY Finance, a leading cross-chain DEX and bridge aggregator.