Lithuanian crypto exchange Monitok raises €420K

Vilnius-based crypto exchange Monitok has raised €420K in a pre-seed round. from a certain Singapore-based investment firm. According to the company, the funding gives it a valuation of €10.5M.

Founded in 2022 by Eimantas Barauskas and Charles Gerardin, Monitok is an EU-regulated crypto exchange. It offers the ability to buy, trade, and sell over 100 cryptocurrencies. The user gets access to a list of his contacts, fiat in/out (exchange between traditional money and crypto), a crypto debit card, and several staking options (receive passive income by simply storing crypto coins). The exchange offers a crypto wallet for storing cryptocurrency, which is secured with private keys. 

Monitok has features of both centralized and decentralized exchanges. The exchange is an aggregation of currency exchanges from more than 90 decentralized exchanges and global banking. The startup uses AI technology to provide predictive analytics for trading and recommendations to maximize profits.

Monitok will use the investment to further develop its product, scale the Monitok hybrid exchange application, and expand its user base.

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