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Decentralized trading platform BHEX has recently completed a $15 million funding round, as reported by CoinTelegraph. The exchange had the support of other big centralized players in the space, such as Huobi and OKCoin.
The Blue Helix group submitted an investment subscription for its new DEX, and attracted over 70 investment institutions, with Genesis Capital expressing interest alongside the aforementioned exchanges. Of these, 40 were selected to participate in the first funding round.
BHEX is due to launch in the upcoming days. It is one of a growing number of decentralized trading platforms aimed at fulfilling the promise of the crypto space and perhaps limiting the influence of huge centralized exchanges like Binance.
Read more: Bithumb DEX has officially launched; According to McAfee, decentralized exchanges will beat out centralized ones
BHEX claims that asset custody and clearing on the platform will be managed and monitored by the community, through a BHPOS consensus mechanism: "More specifically, storing transactions onto blockchains, cold/hot wallet segmentations, multi-layer signatures and community asset clearing consensus mechanisms. The solution it is providing will enable the distributed management and supervision of asset custody while allowing for peer to peer settlements."