Railroads raised $ 14m from supporters including Kraken to launch Crypto Exchange
The Crypto Exchange Rails raised $ 14 million in a token sale to launch the trading platform combining self-custody and high-speed implementation, the company said in a press release Wednesday.
The company raised $ 14 million in a token sale to investors in April this year, and $ 6 million in a seed round closed in January 2024, the company said.
Investors include Kraken, Slow Ventures, CMCC Global, Quantstamp and Round13 Capital, the company said.
Railroads said it was designed to resolve the basic Crypto trade-off: speed compared to security.
The platform allows users to maintain the care of their genitals while accessing the performance that is traditionally reserved for centralized exchanges, the railroad said.
“Our hybrid model delivers the best in both worlds,” co-founder and CEO Satraj Bambra, said on the release. “Users get on-chain transparency of conservation without giving up speed.”
Railroads will support trading for major crypto assets, the company said, and will promote zero-knowledge proofs and Merdle trees to prove the goods safely.
The platform will deploy exclusively on the layer-2 network of Kraken, ink, to boost transaction speed and reduce costs, the company said.
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