Wintermute Backs DEX Vertex Protocol in Strategic Investment

Vertex Protocol, a decentralized exchange (DEX) for spot and derivatives trading of digital assets, has received a strategic investment from Wintermute Ventures, the investment arm of noted liquidity provider Wintermute.

The investment amount wasn’t disclosed, but the tie-in will see Wintermute providing liquidity for Vertex’s exchange. The duo will also work to “deepen each other’s ties across various business lines,” according to a .

Decentralized exchange trading volume rose in the first quarter of this year to despite the increasing regulatory scrutiny in the United States. Vertex Protocol on Arbitrum and has grown to having $21.4 million in trading volume over the past 24 hours, according to .

"Vertex Protocol meets the market's growing demand for noncustodia l trading solutions while also possessing the efficiency of centralized exchanges," said Tim Wu, head of decentralized finance (DeFi) at Wintermute, in the statement. "Their rapid growth reflects this trend, and their robust infrastructure is a good fit for large trading firms like us," Wu added.

Edited by Aoyon Ashraf.