Ouinex Raises $9M From Traders and Opens Launchpad

Crypto asset exchange Ouinex has successfully raised $9 million in funding, entirely from its retail and professional traders, without venture capital involvement. This funding includes a recent $3.5 million equity round. The company has also launched Ouinex Launchpad, a new platform for token sales focused on verified access, trader engagement, and loyalty. This initiative aims to build trust in a market where many traders are wary of exchanges that profit from client losses. Ouinex's CEO, Ilies Larbi, highlighted that community funding influences their regulatory approach, allowing investment in licensing across five continents. The funding rounds began in June 2023, with over 10,000 traders contributing to date. The Ouinex Launchpad will feature the exchange's native token, OUIX, in its first sale, with allocations based on user engagement rather than private investor status. Ouinex also employs a proprietary No-CLOB execution model to enhance transparency and prevent practices like stop-hunting.

(Source：BeInCrypto)