UAE based Further Ventures, capital markets investment firm, has invested $5 million in GRVT, a regulated Decentralized exchange. The investment will be utilized to drive GRVT’s Middle East expansion and license progress.
GRVT (pronounced “gravity”), a regulated DEX, on its blog, believes the investment marks another significant milestone for GRVT, following its recent achievement of securing a Class M (“Modified”) Digital Asset Business License from the Bermuda Monetary Authority (BMA), making it the world’s first regulated DEX.
As a strategic partner, Further Ventures will provide essential support in product development, legal and regulatory guidance, talent recruitment, and business development, enabling GRVT to enhance its offerings for both retail and institutional traders across the Middle East. This will accelerate GRVT’s growth, strengthening its position as the first licensed blockchain-settled exchange and underscoring its next goal of securing a Abu Dhabi Global Market (ADGM) capital markets license.
“We are thrilled to this strategic round and have the support from Further Ventures as we continue to redefine the future of crypto exchanges,” said Hong Yea, Co-Founder and CEO of GRVT. “This investment is a crucial step in our expansion into the Abu Dhabi market, whose innovative crypto ecosystem and progressive regulatory frameworks make it an ideal base as we aim to lead the compliant DeFi development across the Middle East region. With Further Ventures’ backing, we’re well-positioned to meet the needs of both retail and institutional investors here.”
“GRVT is redefining the convergence of DeFi and TradFi with a compliance-first, self-custody approach,” said Mohamed Hamdy, Managing Partner at Further Ventures. “By integrating the efficiency and familiarity of traditional financial systems with the security and transparency of blockchain technology, GRVT is setting the stage for the future of global finance. This visionary blend of innovation and responsibility aligns perfectly with our mission to lead the region in shaping the next era of digital assets and financial services.”
GRVT launched its Mainnet Alpha in December 2024, reaching a 30-day trading volume of nearly $1.3 billion and an all-time high 24-hour trading volume of $88 million.
Earlier this month, Further Ventures, led a $16 million investment Series A round in French digital asset wallet and custodian developer, DFNS, DFNS, which was launched in 2020, and has operations both in Paris and New York aims to compete against FireBlocks and Ledger. Using the funds raised both in 2022, $12 million and that raised in January 2024 $16 million, the startup plans to accelerate its development to meet requirements of financial institutions.
