On May 9, UXUY, a decentralized multi-chain trading platform incubated by Binance Labs, announced the successful completion of a $7 million Pre-A funding round. This investment brings the platform’s total funding to more than $10 million, marking a major step forward in its mission to enhance the Bitcoin ecosystem. With over 100,000 traders already using its Bitcoin Lightning Network services, UXUY is quickly becoming a key player in decentralized finance.
The funding round attracted a wide range of global investors from Asia, North America, and Europe. Backing came from industry leaders including Binance Labs, JDI Ventures, UTXO Management (Bitcoin Magazine), Bixin Ventures, Matrix Partners, and others. This broad support highlights strong confidence in UXUY’s vision and technical approach.
Proceeds from this round will be used to develop infrastructure that supports efficient, low-cost trading of emerging digital assets. Key focus areas include Lightning Network Taproot Assets, Ordinals BRC-20, and Runes protocols.
Jordan, Co-Founder of UXUY, commented: “We are thrilled to achieve this milestone. It reinforces our commitment to driving innovation in decentralized trading. By integrating the Bitcoin Lightning Network with a multi-chain environment, we aim to expand trading possibilities and significantly contribute to the growth of the Bitcoin ecosystem.”
What Is UXUY?
UXUY is a decentralized trading platform that enables cross-chain transactions across multiple blockchain networks. Incubated by Binance Labs, it focuses on user-friendly and efficient trading experiences. A standout feature is its use of the Bitcoin Lightning Network, which allows fast and low-cost transactions.
The platform is designed to support new asset classes such as Taproot Assets and BRC-20 tokens, making it easier for users to access a broader range of digital assets without relying on centralized intermediaries.
The Role of the Bitcoin Lightning Network
The Bitcoin Lightning Network is a second-layer protocol built on top of the Bitcoin blockchain. It enables instant transactions at very low costs, solving Bitcoin’s scalability challenges. UXUY leverages this technology to offer users a seamless trading experience.
By integrating Lightning Network capabilities, UXUY reduces transaction fees and settlement times. This is especially useful for high-frequency and small-volume traders.
Significance of the Funding Round
Raising $7 million in a Pre-A round is a notable achievement—especially under current market conditions. It signals strong investor belief in UXUY’s model and the future of Bitcoin-based decentralized trading.
The funding will accelerate the development of key infrastructure, support global expansion, and drive the adoption of Lightning Network technology in trading scenarios beyond simple payments.
Future Plans and Vision
UXUY aims to bridge the gap between the Bitcoin network and other blockchains. This involves creating a unified liquidity environment and supporting new token standards like Runes and BRC-20.
The team is also focused on improving the user experience for both new and experienced traders. This includes better onboarding, educational content, and more intuitive trading interfaces. 👉 Explore more strategies for decentralized trading
Frequently Asked Questions
What makes UXUY different from other decentralized exchanges?
UXUY integrates the Bitcoin Lightning Network to offer faster and cheaper transactions. It also supports cross-chain trading and new Bitcoin-based asset types like BRC-20 tokens, which many other platforms do not.
How does the Lightning Network improve trading?
The Lightning Network allows off-chain transactions that settle almost instantly with minimal fees. This improves the user experience, especially for frequent traders and those making smaller trades.
Which blockchains does UXUY support?
While UXUY is built with a strong emphasis on Bitcoin, it is a multi-chain platform. It supports trading across several major blockchain networks, enhancing interoperability and liquidity.
What are Taproot Assets and BRC-20 tokens?
Taproot Assets are tokens issued on the Bitcoin Lightning Network, while BRC-20 is a token standard on the Bitcoin blockchain using Ordinals theory. Both expand Bitcoin’s functionality beyond simple payments.
Is UXUY available to users worldwide?
Yes, UXUY is designed to be accessible globally. However, users should always comply with local regulations regarding cryptocurrency trading.
How can I start trading on UXUY?
You can visit their official website to create an account. The platform offers guidance for first-time users, including wallet setup and fund deposition. 👉 Get advanced methods for cross-chain trading
UXUY’s latest funding round not only provides financial backing but also validates its role in advancing the Bitcoin ecosystem. With a clear vision and growing user base, the platform is well-positioned to influence the future of decentralized trading.