Decentralized Crypto Exchange Rails Raises $6.2 Million to Fill Void Left by FTX Crash in 2022

Rails, a decentralized crypto exchange, has secured $6.2 million in funding to address the gap left by FTX's crash in 2022. The exchange will be launched in select crypto-friendly countries, excluding the US, and will offer both centralized and decentralized underlying technology. The funding will be used to hire more engineering staff and expand its licensing and regulatory strategy to ensure full compliance. Rails will focus on market makers and institutional clients, offering perpetual futures contracts that track the price of bitcoin through stablecoin USDC. The platform aims to provide a centralized experience while keeping the money in audited smart contracts, bridging the gap between centralized computing and decentralized custodying of assets through blockchain technology.