DEX Protocol 0x Labs Raises $70M From Greylock, OpenSea and Jared Leto

0x was tapped last week to power Coinbase’s new NFT marketplace.

Apr 26, 2022 at 1:02 p.m. UTC
Updated Apr 26, 2022 at 5:26 p.m. UTC

Brandy covers crypto-related venture capital deals for CoinDesk.

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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Brandy covers crypto-related venture capital deals for CoinDesk.

Brandy covers crypto-related venture capital deals for CoinDesk.

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