Unizen, the smart centralized-decentralized (CeDeFi) exchange and GEM, a Bahamas-based private equity group, have strengthened their strategic partnership as they look to drive the next wave of Web3 development.
The announcement expanded on GEM’s $200 million investment commitment to Unizen sealed in June this year, which, as Invezz highlighted, was structured for implementation based on certain milestones by Unizen.
On Friday, Unizen CEO Sean Noga and Jonathan Collins, Director at GEM Digital Limited, wrote the joint press release in which they explained the scope of the two companies’ shared Web3 goals.
Boost growth across Web3 and fintech space
According to Noga and Collins, the strategic partnership and the funding commitment remains. In particular, GEM is impressed by Unizen’s recent launch of its trade aggregator fulfills – one of the key development milestones that needed to be achieved to unlock part of the $200 million capital.
As part of their long-term collaboration, Unizen will tap into GEM’s financial resources and global reach, including in crypto and private equity, to build and grow its platform. With GEM’s milestone-based funding facility, Unizen can time capital injections to align with their roadmap, as well as access financing from investors at rising valuations.
GEM, on the other hand, will leverage Unizen’s offerings across web3 and fintech through ZenX Labs to expand its own opportunities.
The long-term cooperation and commitment between Unizen and GEM Digital is critical for Unizen, especially as it comes at a time the crypto market is trying to navigate another blip following yet another blip that sees major crypto exchange FTX filed for Chapter 11 bankruptcy.