Infinex Partners with Near Foundation to Integrate Chain Signatures, Aiming to Revolutionize Decentralized Exchange Experience

Use the code PRAGUE2024 to snag a 10% discount for The Block’s exclusive crypto conference, Emergence.

Infinex just announced a partnership with the Near Foundation. This collaboration will integrate Near's Chain Signatures into their decentralized exchange platform. What does that mean? Well, Chain Signatures is a protocol that lets you sign transactions on third-party blockchains using just one Near account.

Infinex mentioned that this will make it easier for users to control and interact with non-smart contract chains like Litecoin and Bitcoin. Plus, Chain Signatures also supports other chains, including Cosmos chains, Dogecoin, and the XRP Ledger.

Jed Watson, the CTO of Infinex, said, “Our smart contract architecture is key to combining groundbreaking user experience with on-chain transparency and funds recovery.” He added that with NEAR, they can offer the same features to chains like Bitcoin, giving users genuine self-custody of their assets without any compromises.

Infinex was founded by Kain Warwick, who also created Synthetix. Their goal? To provide a centralized exchange experience on a decentralized infrastructure. Infinex believes that partnering with Near will help them achieve parity with centralized exchanges.

Warwick stated, “Infinex is a monolithic platform that will accelerate the extinction of centralized exchanges.” He expressed excitement about connecting legacy chains like Litecoin and XRP to DeFi.

Infinex claims to have over $125 million in total value locked. Recently, they raised $67.7 million by selling Patron non-fungible tokens. They sold 43,284 NFTs to a group of notable investors, including Peter Thiel’s Founders Fund, Ethereum co-founder Vitalik Buterin, Solana co-founder Anatoly Yakovenko, and Aave founder Stani Kulechov.