Cross-chain trading app Fomo raises $17 million in round led by Benchmark
Fomo said with its app users can maintain one balance across multiple chains and don't have to worry about bridges or gas fees.
Fomo said it has “processed nearly $700 million in volume” and onboarded more than 120,000 users during its beta.
New cross-chain trading app Fomo said on Thursday it raised $17 million in a Series A round led by Benchmark.
"While crypto infrastructure has consistently improved, user experience has remained an afterthought. This has led to fragmentation—incompatible chains, wallets, liquidity, and users scattered across ecosystems," Fomo said in a blog post.
cross-chain trading without bridges or gas fees sounds like a game-changer for retail users - reminds me of how DeFi simplified yields back in 2020. $17M from Benchmark shows big VC faith in consumer crypto apps
solid raise in this market
Benchmark just led Fomo's $17M Series A - rare crypto move for them after the app hit $700M volume and 120K users in beta. Cross-chain trading without bridges or gas fees could be huge for user adoption
This might help the world break away from the centralized exchanges. The capabilities of DEX is growing.
DEX volumes up 25% YoY to $130B in Q3, with cross-chain plays like Fomo accelerating the shift from CEX dominance