Coinbase Collaborates With DeFi Firm to Launch the Ultimate Non-Custodial Exchange
Coinbase, a well-known US-based crypto exchange, has partnered with a privacy-focused crypto firm to introduce a new decentralized exchange (DEX) platform.
The DeFi firm, Violet, plans to launch Mauve, a DEX with characteristics of both DeFi and traditional finance (TradFi).
The company is working alongside various prominent investors, including Brevan Howard, a $20 billion hedge fund, venture capital firm FinTech Collective, and Coinbase Ventures.
Violet co-founder Markus Maier stated that the creation of Mauve was inspired by FTX’s high-profile collapse last year, one of the biggest crypto exchanges at the time. Maier aims to restore confidence in the crypto industry, which he believes has been adversely impacted by the FTX debacle globally.
As a non-custodial crypto exchange, Mauve empowers its users to trade without relinquishing custody of their assets, reducing the risk of unauthorized access or theft of funds.
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Mauve will adopt the architecture of DeFi to ensure investors own their assets while also providing compliance guarantees and disclosure from TradFi to minimize counterparty risk.
According to Philipp Barnhardt, one of Violet’s founders, the long-term vision is for all financial products and services to operate on decentralized crypto rails with no intermediaries, necessitating deep integration between TradFi and DeFi.
Violet initiated this process and now aims to realize this vision with Mauve.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
