GRVT Aims to Bridge DeFi and TradFi with $19M Series A and Regulatory Push

GRVT, a hybrid decentralized exchange built on ZKsync, has completed a $19 million Series A funding round, marking a significant milestone in its growth and regulatory ambitions. The round was co-led by ZKsync, GRVT’s core technological partner, and Further Ventures, an investment firm backed by Abu Dhabi’s sovereign wealth fund. Additional backers include EigenCloud (formerly EigenLayer) and 500 Global, a venture capital firm with $2.3 billion in assets under management. This funding follows GRVT’s earlier $14.3 million raise in December 2024, which was led by Further Ventures.

GRVT operates as a hybrid exchange, combining the speed and regulatory compliance of traditional exchanges with the self-custody and privacy of decentralized protocols. Launched in late 2024 on ZKsync, the platform supports perpetual futures, spot trading, and options markets, and has reported $126 million in 24-hour trading volume and $9 million in open interest. It is positioning itself as the first regulated onchain exchange, having secured the Class M Digital Asset Business License from Bermuda’s Monetary Authority (BMA) and pursuing additional licenses under the EU’s MiCA framework and in Dubai and Abu Dhabi.

The Series A funding will primarily support product development and engineering, with a focus on scaling GRVT’s infrastructure, enhancing privacy features, and expanding into new financial instruments like cross-exchange vaults, real-world assets (RWAs), and cross-chain interoperability. A significant portion of the funds will also be used to strengthen its fixed-yield generation systems and stablecoin-enabled infrastructure, aiming to attract both retail and institutional users.

GRVT’s platform leverages ZKsync’s Validium L2 blockchain, which allows for high transaction throughput—up to 600,000 transactions per second—while maintaining Ethereum-level security through ZK proofs. This infrastructure enables GRVT to offer users on-chain transparency and self-custody solutions without compromising speed or privacy. The integration of EigenDA, EigenCloud’s data availability solution, further enhances the platform’s scalability and privacy guarantees.

GRVT’s leadership team is composed of industry veterans with backgrounds in both finance and blockchain technology. Co-founder and CEO Hong Yea previously worked at Swiss banks such as Credit Suisse and Goldman Sachs, while Chief Technology Officer Aaron Ong brings experience in data privacy and enterprise tech from Meta. The team emphasizes a compliance-first approach, with a dedicated legal and regulatory team from the project’s inception.

The funding round underscores growing institutional interest in hybrid models that bridge traditional and decentralized finance. As regulatory scrutiny intensifies globally, platforms like GRVT are seen as potential solutions for institutions seeking to engage with blockchain while maintaining compliance. The project’s roadmap includes obtaining a Full Class F license in Bermuda and expanding its regulatory footprint across multiple jurisdictions, aligning with global efforts to standardize digital asset frameworks.

Analysts note that GRVT’s approach mirrors that of earlier DeFi leaders like dYdX and Uniswap, whose early-stage funding catalyzed broader adoption and ecosystem growth. With the backing of strategic partners like ZKsync and Further Ventures, GRVT aims to redefine onchain finance by addressing longstanding challenges such as privacy gaps, counterparty risks, and fragmented liquidity. As the sector continues to evolve, the firm’s focus on institutional-grade infrastructure and regulatory alignment positions it to play a pivotal role in shaping the future of decentralized financial markets.