Cryptocurrency startup Velar completes $3.5 million funding, with participation from Bitcoin Startup Lab and others

ChainCatcher news, according to CoinDesk, crypto trading startup Velar has completed a $3.5 million funding round, with participation from Bitcoin Startup Lab, CMS Holdings, Black Edge Capital, GBV, Cypher Capital, Trust Machines SPV, Transform Capital, Maple Block, and Samara Asset Group.

Velar plans to launch a perpetual exchange utilizing the Bitcoin network. The Velar v3 version will support synthetic Bitcoin asset sBTC as collateral and enable leveraged trading, with the v3 version set to launch in the second quarter of 2024.