PANews reported on June 4th, according to Decrypt, that the crypto exchange startup Rails, which is backed by Kraken, announced the completion of a $14 million funding round, with participation from Kraken, CMCC Global, Slow Ventures, Round13 Capital, and Quantstamp, bringing its total funding to $20 million.
The hybrid trading platform launched by the company combines the execution speed of centralized exchanges with the asset control offered by on-chain custody. Rails was founded by the BlockEQ team, which created a crypto wallet that was acquired by the Canadian exchange Coinsquare in 2018. The platform will be exclusively deployed on the Ink Layer2 blockchain developed by Kraken.
