Vessel Finance
An exchange platform with enhanced privacy and security.
| Date | Investors | Amount | Round |
|---|---|---|---|
* | $10.0m | Seed | |
| Total Funding | 000k | ||
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Vessel Finance is a financial technology company headquartered in Singapore that has developed a specialized exchange platform for digital asset trading. The firm operates in the cryptocurrency and FinTech sectors, offering a solution designed for secure and high-speed transactions. The company secured $10 million in a seed funding round on August 8, 2024, with backing from nine investors, including Algorand Foundation, Avalanche Foundation, and Folius Ventures.
The core of Vessel Finance's offering is its zero-knowledge exchange platform. This technology enables traders to execute transactions with a high degree of security, utilizing features like zero-knowledge proofs and multi-signature security protocols. The platform is engineered to handle a high throughput of up to 1,000 transactions per second with a latency of under 50 milliseconds, positioning its performance in line with centralized exchanges. A key feature for users is the elimination of gas fees for trading, which is intended to create a more cost-effective environment for traders to focus on their strategies.
Vessel's platform architecture is built upon what it terms a Verifiable AMM-Embedded Limit Order Book (VAELOB). This model integrates the functionalities of both Automated Market Makers (AMMs) and traditional order book systems, with the added element of verifiability for all processes. It supports both spot and perpetual trading on a single, unified interface. To facilitate user onboarding and accessibility, the platform has integrated with Abstract Account (AA) wallets and is designed to be mobile-friendly, allowing for trading on the go. Additionally, it includes portfolio management tools to assist users in tracking and optimizing their investments. Keywords: digital asset trading, cryptocurrency exchange, zero-knowledge proofs, high-throughput trading, low-latency trading, zero gas fees, perpetual trading, spot trading, VAELOB, AMM order book hybrid, FinTech, blockchain security, multi-sig security, Abstract Account wallet, portfolio management, secure trading, efficient trading, cost-effective trading, crypto trading platform, Singapore FinTech