Crypto exchange MARA raises $23mln from investor group

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Despite the recent turmoil in cryptocurrency markets, MARA, a pan-African crypto exchange startup, has reportedly raised $23 million from a group of investors led by Coinbase Ventures and Alameda Research. The other investors backing the equity and token sale round include Distributed Global, TQ Ventures, DIGITAL, Nexo, Huoni Ventures, Day One Ventures, Infinite Capital, DAO Jones and others.

The startup will use the capital to launch its product offering which will consist of a custodial retail crypto wallet, a pro-exchange for professional crypto traders, and a layer-one blockchain that the startup hopes will become the chief network used by Africa-focused crypt and blockchain developers to build their products.

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