Crypto Exchange Unizen acquired a credit of $200 Million from GEM.
Unizen which prefers to be known as “CeDeFi” is essentially a mixture of both centralized exchanges (CEX) and decentralized exchanges (DEX). The exchange is factually known to operate on BNB chain also known as Binance Smart Chain. The main vision of the company is to attract both retail as well as institutional investors. The role that the company plays is to provide the most cost-efficient trades across CEXs such as Binance and DEXs such as Uniswap.
Unizen recently acknowledged that it received a credit facility from GEM for $200 Million to accelerate the development of its trade aggregation system. According to the reports, the raise of the fund through the investment round is not a conventional one. Reportedly, GEM’s $200 Million is described as a “Capital Commitment” which essentially means the investment is subjected as performance based or milestone based.
GEM’s interest in Unizen.
GEM (Global Emerging Market) is essentially known for focusing on investing in emerging markets and is worth $3.4 Billion. GEM announced about its professional partnership with Unizen and mentioned that it has envisaged to have the best technology that will shape the future of finance and this step is taken in the same direction.
Allocation of funds by Unizen.
Unizen plans to allocate the funds to majorly improve the ecosystem of the company. The money will be used to advance Unizen’s internal aggregation system, which is intended to identify the most effective trade routes between various centralised and decentralised crypto exchanges like Binance, Uniswap, and PancakeSwap, as well as to expand the company’s team and market its products.
The emergence of CeDeFi system.
Unizen is one of the unique company’s which is known to function on the basis of CeDeFi system. CEO of Binance, Changpeng Zhao, coined CeDeFi to define a system where the users are allowed to enjoy the benefits of a decentralized finance without any risks associated with it and without having to deal with the complexities and the Defi protocols that come in with Decentralized Finance.
It is heartening to see that GEM showed its interest in crypto market and supported by investing $200 Million of its funds in crypto exchange Unizen. During the current market situation, it takes a lot of strategizing, planning for institutions to invest in any kind of crypto related dealings. The move surely promises to help the market withstand the market’s apocalypse.