Rails Secures $14 Million Funding Led by Kraken to Introduce Crypto Trading Platform
Rails, a cryptocurrency exchange, garners $14 million to launch a platform that combines asset custody and rapid trade execution, receiving backing from notable investors including Kraken.
Cryptocurrency exchange Rails has successfully raised $14 million through a token sale to support the launch of its unique trading platform that integrates self-custody with rapid execution speeds. This funding round was completed in April, following an earlier $6 million seed round that wrapped up in January 2024.
Key investors backing this venture include Kraken, Slow Ventures, CMCC Global, Quantstamp, and Round13 Capital.
Rails aims to address a fundamental dilemma in cryptocurrency: balancing speed and security. This platform allows users to maintain control over their assets while enjoying the performance typically associated with centralized exchanges.
“Our hybrid model delivers the best of both worlds,” said Satraj Bambra, Co-founder and CEO of Rails. “Users get the transparency of on-chain custody without giving up speed.”
This innovative platform promises to support trading for major cryptocurrencies and will utilize zero-knowledge proofs and Merkle trees to ensure secure trade validation. Additionally, it will operate on Kraken’s layer-2 network, Ink, which is designed to enhance transaction speed and minimize costs.
