UAE-based DeFi platform ZKX raises over $4 million in seed funding

UAE-based DeFi platform ZKX raises over $4 million in seed funding
Photo by Tezos / Unsplash

ZKX, a Dubai-based decentralized finance (DeFi) startup helping users to have improved payment experiences with low gas costs has raised $4.5 million in its seed round funding to improve its operations.

  • The fund will be used to further develop its open-source protocol, DAO funding and grow its platform, the startup claims.
  • Founded in 2021, ZKX offers faster and cost-effective transactions as a decentralized finance platform and is built on StarkNet.
  • It focuses on advancing scalability, addressing the challenges of centralized entities, reducing high gas fees, and improving user experience.
  • StarkWare, Alameda Research, Amber Group, Huobi, Crypto.com, and others invested in the round.