True Markets Raises $11M in Series A, Launches Mobile-First DeFi Trading App on Solana

True Markets, a new decentralized finance (DeFi) trading platform focused on stablecoin-native execution, has launched its mobile app on Solana and closed an $11 million Series A, bringing total funding to $20 million, the company said in a press release Tuesday.

The funding round was co-led by Accomplice and RRE Ventures, with participation from Reciprocal Ventures, Variant Fund, and PayPal Ventures.

Seed investors Paxos Ventures and the Solana Foundation, continue to support the firm, True Markets said.

Founded by Coinbase (COIN) and Circle veterans Vishal Guptaand Patrick McCreary, New York-based True Markets aims to deliver a non-custodial, mobile-first DeFi trading experience for retail users, prioritizing speed, simplicity, and transparency.

The app enables stablecoin-powered token trading on Solana, with gasless execution, smart order routing, and embedded key management via Turnkey, all without users surrendering custody of funds, True Markets said.

“Retail traders have been stuck with clunky workflows, unclear pricing, and fragmented liquidity,” said Vishal Gupta, CEO of True Markets, in the release.

“Our goal is to deliver a fairer and more transparent experience that makes asset discovery simple, shows real-time market momentum, and feels as intuitive as the best apps on your phone,” Gupta added.

Backed by infrastructure partners Turnkey and Definitive, the app features real-time market sparklines, automated execution across decentralized venues, and hosted wallets that support immediate funding and trading within a non-custodial framework.

True Markets said it plans to expand into both CeFi and DeFi markets, with future integrations including TrueX, a centralized exchange designed for institutional liquidity and qualified custody.

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.