Infinex Partners with Near Foundation to Enhance Decentralized Exchange

Infinex has announced a partnership with Near Foundation, integrating Near's Chain Signatures into its decentralized exchange platform. This protocol enables users to sign transactions across various third-party blockchains using a single Near account.

In a statement shared with The Block, Infinex highlighted that the collaboration will allow users to easily control and interact with non-smart contract chains such as Litecoin and Bitcoin. The Chain Signatures protocol also supports other chains like Cosmos, Dogecoin, and XRP Ledger.

Jed Watson, Infinex CTO, remarked, "Our smart contract architecture is key to how we combine groundbreaking UX with on-chain transparency and funds recovery." He emphasized that with NEAR, Infinex can extend the same functionalities to chains like Bitcoin, providing users with genuine self-custody of native assets.

Founded by Synthetix creator Kain Warwick, Infinex aims to deliver a centralized exchange experience on a decentralized infrastructure. The partnership with Near is expected to help Infinex achieve parity with centralized exchanges.

Warwick stated, "Infinex is a monolithic platform that will accelerate the extinction of centralized exchanges. To do this, we’re thrilled to partner with NEAR to connect legacy chains like Litecoin and XRP to DeFi."

Infinex claims to have over $125 million in total value locked. Last month, the platform raised $67.7 million by selling Patron non-fungible tokens, which attracted notable investors such as Peter Thiel’s Founders Fund, Ethereum co-founder Vitalik Buterin, Solana co-founder Anatoly Yakovenko, and Aave founder Stani Kulechov.