August 7, 2021

Cloudx, a new decentralized exchange built on the Ethereum blockchain, has received a major upgrade in its infrastructure and its users are excited to see what the new platform can do.

The new features include support for the first time for multisignature transactions, support for encrypted wallets and more.

Cloudx announced today that it has received more than $4 million in funding from a total of eight investors.

The company’s first investors included Bitcoin Investment Trust, Coinbase, Digital Currency Group, Gemini, Blockstream, Digital Asset Holdings, Digital Exchange Group, Cryptsy, and Union Square Ventures.

“This funding will enable Cloudx to scale more quickly, enable users to make and take advantage of their transactions, and make sure that we can maintain a robust and safe environment for the continued development of this revolutionary technology,” said Cloudx CEO and co-founder Sam Altman.

The investment comes on top of a $10 million Series A round earlier this year.

CloudX also announced a partnership with Blockchain.info to develop and integrate the company’s API for use in the Bitcoin and Ethereum blockchain applications.

“With this new funding, we’re also making Cloudx even more secure, with more advanced security features and a new API,” Altman said.

“The team at Cloudx is excited to get the next step forward with a robust, secure platform and we look forward to bringing you updates as the platform matures.”

Cloudx currently supports the Ethereum platform and it will be adding support for other platforms as the company continues to work toward full scalability.

“We are proud to be part of this growing community of innovative, world-class developers and we will continue to push the envelope with the platform,” Altham added.

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