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DEX Protocol 0x Labs Raises $70M From Greylock, OpenSea and Jared Leto
0x was tapped last week to power Coinbase’s new NFT marketplace.
By Brandy Betz
Updated May 11, 2023, 5:37 p.m. Published Apr 26, 2022, 1:02 p.m.
0x Labs, which provides a decentralized exchange (DEX) protocol and non-fungible token (NFT) standards and infrastructure, has raised $70 million at an undisclosed valuation in a Series B round led by Greylock Partners and including NFT marketplace OpenSea, Pantera Capital, Jump Crypto and actor Jared Leto, according to a press release provided to CoinDesk. Forbes first reported on the news.
- 0x offers a liquidity application programming interface that developers can use to split up transactions between decentralized exchanges to find the best prices and throughput. Supported exchanges include Uniswap, Curve and Oasis.
- The firm also offers Matcha, a global liquidity and markets search engine that helps users trade their tokens at the best prices.
- Last week, 0x Labs' native ZRX token soared 47% after an announcement that 0x would power the NFT marketplace of Coinbase (COIN), which operates the second largest crypto exchange in terms of trading volume.
- The ZRX token is up almost 15% over the past 24 hours.
- 0x Labs raised $15 million in February 2021 led by Pantera.
UPDATE (April 26, 15:02 UTC): Updated sourcing and removed 'report from headline.
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